ICYMI - ANZ expect crude oil above $100 / barrel in H2 of 2023 - tighter market ahead

<p>This from ANZ yesterday that I'm doing a bit of a catch-up on. Analysts at the bank update their forecasts, in brief:</p><ul><li>short-term (0-3 month) target for Brent crude to $75/bbl</li><li> sell-off in Brent will be relatively short-lived as fundamentals continue to signal a tighter market in Q2 2023 </li><li>expects crude oil prices to push above $100/bbl in H2 of 2023</li><li>expects global oil demand to rise by 2.5 mb/d in 2023</li><li>expects China's oil consumption to increase by around 1.0 mb/d this year</li><li>maintains the view that Russian crude and condensate production will fall 500 kb/d in H1 2023 from pre-conflict levels</li></ul><p>Also:</p><ul><li>ANZ expect OPEC to keep the production cuts announced in late 2022 in place (if you missed this <a href="https://ift.tt/6FNa78w" target="_blank" rel="follow">check it out here</a>) </li><li>banking turmoil could further inhibit growth in US supply</li><li>lower oil prices may induce further demand, with the US to refill its strategic reserve</li></ul> This article was written by Eamonn Sheridan at www.forexlive.com.

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