Eni's CEO predicts a Brent crude price recovery to $80 per barrel in Q4, while analysts warn of potential demand slowdowns and price volatility.
Brent Crude prices are set to recover to $80 per barrel in the fourth quarter, Claudio Descalzi, chief executive at Italian energy major Eni , said on Wednesday. “Oil is seen at around $80 per barrel, while for natural gas in Italy we can expect a price of 30 euros per megawatt hour,” Descalzi said on the sidelines of the Energy Summit conference organized by Italian business daily Il Sole 24 Ore. There is extreme volatility in oil prices, Eni ’s top executive said.
Brent at around $80 per barrel for the rest of the year is the call of most investment banks and analysts. Macquarie has revised down its forecast for Brent Crude price by $2 per barrel to $80 for the rest of 2024. Earlier this month, the bank cut by the same amount its estimate for the WTI Crude price, expecting it to average $75 a barrel for the remainder of the year.
Oil Price Forecast Eni Supply Chain Constraints Investment Banks China Demand Concerns Goldman Sachs Morgan Stanley Shale Production
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brent crude prices rise amid Israeli air strikes in Lebanon and expected China growthThe price of oil impacts how much it costs to fill up a petrol tank, which has been lower recently than at anytime in three years, and can affect the cost of everyday goods.
Read more »
Legendary NFL wide receiver earned $80 million during Hall of Fame career but lost it all due to ‘bad d...Former San Francisco wide receiver Terrell Owens discusses with Graham Bersinger how he lost $80m due to ‘bad decisions’.
Read more »
Joey Barton trial date set over malicious postsThe ex-footballer denies sending malicious communications to football pundit Eni Aluko.
Read more »
Lime bikes may be removed from Brent over safety concernsAbandoned e-bikes are causing havoc in a north-west London borough, according to the local council.
Read more »
Brent Plunges Below $75 as Bearish Sentiment BuildsOil prices fell sharply on concerns about weak global demand, particularly from China, outweighing production disruptions in Libya.
Read more »
Brent council threatens to remove Lime after bikes block pavementsBrent borough could soon be a Lime bike-free zone after a council gave an ultimatum over scattered e-bikes reportedly blocking pavements.
Read more »