Others, including analysts at the energy research firm FGE, said they expect oil prices in the range of $90-$95 per barrel by the third quarter of 2024.
“Demand is going to creep higher, seasonally, in the second half of the year, and it’s going to outstrip supply growth from non-OPEC+ sources,” James Davis, who heads up crude production forecasting at FGE, told the Washington Examiner in an interview. “So the balance is going to get tighter. That’s the expectation.”