Fitch Ratings revises its near-term oil and European gas price assumptions, driven by OPEC+'s control over supply, additional production cuts, and the deficit in the oil market. The Brent and WTI oil benchmark assumptions for 2024 are raised, reflecting OPEC+'s commitment and the estimated 1.2 MMbpd deficit. Russian export volumes remain resilient, while US shale production growth is expected to moderate. The International Energy Agency notes a significant demand increase in 2023, but growth is anticipated to slow in 2024. https://ift.tt/uin098D
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