April 4, 2023

Energy Market Overview

Energy Market Overview 04.04.2023: OPEC’s decision could push gas prices up again by the end of the year

The decision made over the weekend by the OPEC oil cartel to limit crude oil production caught the markets by surprise, and the oil price went up by 6% to 85 USD/bbl on Monday. According to analysts, if that decision is upheld, oil prices could go up to 110 USD/bbl by the end of the year. Such an increase in oil prices would inevitably lead to natural gas prices going up as well.

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