Is The Oil Price Slide Finally Over?

Despite oil’s most recent slump to a 15-month low last week, analysts and investment banks continue to expect higher prices at the end of this year as demand is set to pick up with the driving season, and supply is bound to tighten with the OPEC+ cuts in the second half of 2023.  Concerns about demand in a possible recession and renewed fears of further bank collapses sent oil prices to their lowest level since December 2021 in the middle of last week. In the week to May 5, oil ended its third consecutive week of weekly declines—the…