Experts - How long will the bullish oil rally last?

[Cliff_N]

https://oilprice.com/Energy/Oil-Prices/How-Long-Will-the-Oil-Price-Rally-Last.html

"That appears to be the opinion of the majority of analysts polled recently by the Wall Street Journal. Per that poll, Brent crude should average $87 per barrel in the current quarter and remain around this level until the second quarter of 2024.

For West Texas Intermediate, the analysts see a price of $83 per barrel this quarter and into the first half of 2024. Even with continuing cuts from OPEC+ and a rebounding Chinese economy.

The reason they don’t see prices much higher is that China’s recovery from the pandemic is moving more slowly than expected and, interestingly, that Saudi Arabia’s voluntary cuts have increased its spare production capacity."

[dan_s]

Per Marshall Atkins (Raymond James): "We will need every drop of OPEC+ spare capacity to meet 2024 oil demand."

Saudi Arabia is building inventory now to sell at higher prices next year.