KUALA LUMPUR, Sept 7 — BMI, a unit of Fitch Solutions, maintained its Brent crude oil price forecast unchanged, at an annual average of US$80 (RM374.12) per barrel for 2023,...
KUALA LUMPUR, Sept 7 — BMI, a unit of Fitch Solutions, maintained its Brent crude oil price forecast unchanged, at an annual average of US$80 per barrel for 2023, rising to US$83 per barrel in 2024.
Currently, BMI has forecasted for Opec’s output to rise next year, but growth to be relatively moderate at 367,000 barrels per day year-on-year and highly varied across different producers. BMI added that inflationary pressures have eased to some extent, as drilling activity has fallen, but input costs remained elevated in historical terms, particularly labour costs.
BMI current forecasts put global real gross domestic product growth at 2.2 per cent year-on-year in 2024, only marginally below the 2.4 per cent it forecasted for this year
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