Commodities Analysis and Opinion

WTI Crude Oil Shrugs off Russian Mutiny, OPEC Says Demand Set to Grow

06/26/2023

Less than a minute

2023.06.26 13:28

Daniela Hathorn

prices were stable at the start of the week after an attempted coup by Russian mercenaries during the weekend.

The initially perceived threat to production from Russia ultimately didn’t have any impact on the price of crude oil.

One other factor contributing to the calm demeanor of markets are forecasts from Haitham al-Ghais, the Secretary General of OPEC, who said that will not be replaced any time soon and that the organization expects demand for crude oil to grow by 23% by 2045, despite the proliferation of renewables.

Watch our latest video to hear more about what to potentially expect from crude oil prices.

06/26/2023

Less than a minute

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