Oil Prices Predicted to Hit 20-Year Low
Update: 2025-11-25
Description
Oil prices predicted to plummet, potentially reaching thirty dollars a barrel by the end of 2023, due to increased OPEC production and decreasing demand, particularly in China. This could lead to lower transportation costs and reduced inflation, but global events and economic volatility may impact the timeline. Global oil supply has surged by six million barrels per day since January, with stockpiles at their highest level since July 2021.
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