{"id":1208347,"date":"2022-09-21T09:06:04","date_gmt":"2022-09-21T09:06:04","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/09\/21\/fitch-revises-again-end-year-forecast-for-price-of-brent-crude-to-100-per-barrel\/"},"modified":"2022-09-21T09:06:04","modified_gmt":"2022-09-21T09:06:04","slug":"fitch-revises-again-end-year-forecast-for-price-of-brent-crude-to-100-per-barrel","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/09\/21\/fitch-revises-again-end-year-forecast-for-price-of-brent-crude-to-100-per-barrel\/","title":{"rendered":"Fitch revises again end-year forecast for price of Brent crude to $100 per barrel"},"content":{"rendered":"

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Ratings agency, Fitch, has revised its end-year forecast for the price of Brent Crude to $100 per barrel, from the previous $105.<\/p>\n

It had earlier reviewed its projection to $105, but recent global developments where economic growth has slowdown caused this revision.<\/p>\n

\u201cOur reduced Brent and WTI assumptions for 2022 reflect year-to-date oil pricing driven by concerns about economic growth. Oil spot prices have recently declined, especially compared to the levels in March [2022] and June [2022], due to fairly resilient Russian export volumes and a potential revival of the Iran nuclear deal, which could add one million barrels per day (bpd) of oil supply to the market\u201d.<\/p>\n

\u201cUS production is increasing, although it faces oilfield services bottlenecks and constrained capital expenditure budgets\u201d, it said.<\/p>\n

However, the ratings agency noted that OPEC+ remains cautious in its approach to quota increases and has recently cancelled a production addition of 100,000bpd to its October 2022 target.<\/p>\n

The $100 is still a good one for oil-producing countries such as Ghana, but bad news for petroleum consumers.<\/p>\n

For countries that do not provide fuel subsidies, consumers would have to pay more petroleum products.<\/p>\n

Meanwhile, Brent crude is still hovering around $90 per barrel.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ratings agency, Fitch, has revised its end-year forecast for the price of Brent Crude to $100 per barrel, from the previous $105. It had earlier reviewed its projection to $105, but recent global developments where economic growth has slowdown caused this revision. \u201cOur reduced Brent and WTI assumptions for 2022 reflect year-to-date oil pricing driven […]<\/p>\n","protected":false},"author":1,"featured_media":1208348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[6010,26070,6031,26071,2145,9943,169,6602],"class_list":["post-1208347","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-barrel","tag-brent","tag-crude","tag-endyear","tag-fitch","tag-forecast","tag-price","tag-revises"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1208347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1208347"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1208347\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1208347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1208347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1208347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}