Oil's rally gathers pace as Brent pops above $95 a barrel
Wed, Sep 20, 2023 10:46 AM

Oil's rally gathers pace as Brent pops above $95 a barrel

A Flip by Avya Verma
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Oil prices have seen a revitalized rally, ending a 10-month slump and reaching $95/barrel. Saudi Arabia and Russia are relying heavily on production and export cuts to drive up prices, leading to tightness in supply indicated by Brent and WTI's backwardation of over $1. An improving outlook for the US and China are further fueling oil's rise, with PVM relaying that production/export cuts.

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