Oil Prices Steadying Again

Oil prices remain above $100 per barrel due to supply restrictions and positive demand forecasts, amid a decline in global production caused by the war in the Middle East, which has led to a decrease in flows by 5.7 million barrels per day. Additionally, global oil inventories have fallen to their lowest levels in months. The International Energy Agency expects production to continue declining, with increasing demand for oil passing through the Strait of Hormuz, which transports about 20 million barrels daily. This has raised concerns about sustained price increases and their impact on the global economy.

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