JP Morgan Expects Brent Crude to Average $83 in 2024
$JPMorgan(JPM.US$ JP Morgan has forecast an average price for Brent crude of $83 per barrel next year amid a stable market.
![JP Morgan Expects Brent Crude to Average $83 in 2024](https://ussnsimg.moomoo.com/feed_image/70040946/98ab42d2af7532578c6778e4f085ffd6.jpg/bigmoo)
supported by robust emerging-market economies, a resilient U.S., and a weak-but-stable Europe
JPM says that to keep the oil market balanced, OPEC+ alliance would need to continue constraining production
could lead to OPEC+ members deepening current cuts by a million barrels per day
West Texas Intermediate and Brent Crude Oil were up $2/barrel on Monday ahead of the OPEC+ meeting this weekend, where the cartel is anticipated to add output cuts.
![JP Morgan Expects Brent Crude to Average $83 in 2024](https://ussnsimg.moomoo.com/feed_image/70040946/b58d12bde14b324990bdf42f1c86c08d.png/bigmoo)
At the same time, the United States is increasing output, creating a hazy medium-term supply forecast in the face of dropping demand into 2024...
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