Fitch Expects $95 Oil In 2023

Fitch Solutions has reiterated its oil price forecast for this year at $95 per barrel of Brent crude, citing China’s quicker-than-expected reversal of zero-Covid policies and slow production growth. “On the demand side, prospects for growth have improved, following the earlier-than-expected easing of Covid-19 containment measures in Mainland China,” the ratings agency said, as quoted by The Edge. “On the supply side, uncertainties around Russia continue to cloud the outlook, but slowing production growth in the US, further…