OPEC+ Spare Capacity To Keep Oil Prices In Check

HSBC Global Research has predicted that Brent crude prices will remain range-bound at $75 per barrel to $85 per barrel in the mid-term as with spare production capacity by OPEC+ enough to offset any geopolitical risks. According to HSBC, OPEC+ will see its spare production capacity increase to 4.5 million b/d at the end of 2024,  up from 4.3 million b/d at the end of 2023, which should be enough to dampen price spikes. "Trade disruptions in the Red Sea add only a marginal premium to oil prices and no physical supplies have been lost…