OPEC lowers global oil demand growth outlook for third straight month (NYSEARCA:USO)
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
OPEC's Demand Growth Revision: OPEC has reduced its global oil demand growth forecast for 2024 and 2025 for the third consecutive month.
China's Oil Import Decline: China's oil imports have decreased year-on-year for the fifth consecutive month as of September.
Analyst Views on USO
Wall Street analysts forecast USO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for USO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 73.340
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
