1347 ET - High seasonal demand for oil in Saudi Arabia and other OPEC+ countries can absorb additional supply from the group in the near term, limiting exports, but prices are likely to fall after that, Hamad Hussain of Capital Economics says in a note. "Despite OPEC+ adding to global oil supply, the impact on benchmark prices may be limited over the coming months," he says. But, "any boost to demand will be seasonal so we still expect oil prices to fall back by the end of this year." The firm predicts Brent will fall to $60 a barrel by year end. Brent is up 0.2% at $67.19 a barrel, off the day's high of $68. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
June 10, 2025 13:47 ET (17:47 GMT)
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