Will Oil Prices Head Higher In 2023?

Oil prices have consistently traded below $100 per barrel so far in August, weighed down by fears of demand destruction, concerns about looming recessions in Europe and the U.S., and market apprehension about the economic growth in the world's top crude oil importer, China.  But, absent a deep recession that would sink global oil demand, prices are set to increase toward the end of the year and early next year, some analysts say. Most point to the very limited spare capacity both with U.S. shale producers and the OPEC+ group as a key factor…