Fundamentals Point To Flat Oil Prices in 2024

Without a major geopolitical escalation in the Middle East, oil prices are likely to remain around current levels this year, due to a comfortable spare capacity at OPEC+ producers and largely balanced supply and demand outlooks, analysts say.     Attacks by the Iran-backed Houthis on commercial shipping in the Red Sea and the US-UK strikes on military targets in Yemen in response moved Brent oil prices briefly above $80 per barrel at the end of last week, but prices quickly pulled back to around $78 a barrel in Asian trade…