Skip to main content

Oil supply to be constrained into next year

We have lowered our estimate of global oil supply in 2023 after OPEC+’s announcement that it would cut production quotas from November. As a result, we no longer expect the oil market to be in a surplus, and we forecast that the price of Brent will end 2023 at around $85 per barrel ($80 previously).

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services

Get access