Will oil prices rise again, following the drop resulted from OPEC policies and high demand?
Mr. Choeib Boutamine
September 26, 2024
Energy advisor and CEO of Ranadrill Consulting, Mr. Choeib Boutamine, has told CNN-business-arabic that oil markets are dominated by market fundamentals.
Mr. Choeib Boutamine “It is difficult to predict the price of oil currently, as geopolitical changes have a major impact on prices. The United States started cutting the interest rate, which may contribute (even slightly) to curbing the decline in oil prices”.
The CEO of Ranadrill Consulting has pointed out that the price per barrel is not likely to drop to $60, given that OPEC’s cuts have shown their effectiveness. He added that OPEC is ready to take precautionary measures to maintain reasonable prices for the members.
