Brent Crude Oil to plummet toward $80 in Q4 2023 – Danske Bank

Economists at Danske Bank expect Brent Crude Oil to trade lower in the next year. The price could fall as low as $80 in the fourth quarter.

A rebound of USD will further weigh on prices

“We revise lower our oil price forecast and look for Brent to average $90/bbl in H1 next year and fall to $80/bbl in Q4.”

“Global inflation pressures have started to ease, in particular in the US, and Russia looks able to continue to sell oil to the Asian market. A rebound of USD will further weigh on prices.”