JP Morgan Forecasts An Increase In The Oil Capacity Of Iraq And Other Countries In 2025, 11 MAY

 JP Morgan Forecasts An Increase In The Oil Capacity Of Iraq And Other Countries In 2025

2024-05-09 Shafaq News/ JP Morgan believes that there are three main countries in the oil alliance that deserve to upgrade their supplies for the year 2025.

Natasha Caneva, an analyst at JP Morgan, said in a recent report that the United Arab Emirates, Kazakhstan and Iraq intend to increase their total capacity by more than 300,000 barrels per day starting next year, but the planned expansions may represent risks to the cohesion of the alliance and oil prices in general. .

Caneva said: “The main issue for OPEC lies in 2025. Even if the alliance keeps supply restrictions as they are this year, it “does not address the imbalances in 2025.”

The price of Brent crude is expected to remain in the range of $75-90 per barrel in most scenarios, with average prices reaching $82 per barrel in 2025, according to Goldman Sachs.   LINK