Natural Gas and Oil Forecast: Will Russia's Production Cut Push Prices Above Resistance?
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Oil prices have rebounded by 2% due to Russia's production falling below the OPEC+ quota. This development raises questions about whether supply cuts and Federal Reserve policies will drive energy markets higher.
February 11, 2025 | 6:45 am
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POSITIVE IMPACT
The United States Brent Oil Fund (BNO) may see a positive impact as oil prices rise 2% due to Russia's production cuts falling below OPEC+ quotas.
BNO is directly linked to Brent oil prices, which are likely to increase due to reduced supply from Russia. This supply cut, combined with potential supportive Federal Reserve policies, could drive BNO prices higher.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80