OPEC+ To Delay Output Increase For 2 Months Till Prices Stabilize: Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 06 2024
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Source: Benzinga
OPEC+ Decision on Output Increase: OPEC+ has postponed its planned output increase for October and November due to falling crude prices, maintaining current production cuts of 2.2 million barrels per day until the end of November 2024, with a reassessment of future increases based on market conditions.
Market Impact and Future Projections: Oil prices briefly rose following the announcement but remain under pressure from concerns about demand and potential increased supply, with analysts suggesting that without further cuts, oil prices could drop significantly by 2025.
Analyst Views on USL
Wall Street analysts forecast USL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for USL 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: 35.059
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Current: 35.059
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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.
