HSBC’s forecast that Brent Crude prices would remain around $65 per barrel later this year could be too optimistic as OPEC+ continues to raise production, which will result in a bigger-than-expected surplus after the summer ends. “Our new scenario assumes regular hikes from October to December and leaves the 2.
2mbd of voluntary cuts fully unwound by the end of 2025,” the bank said in a note on Friday carried by Reuters. OPEC+ producers have just said they would boost July production by another 411,000 barrels per day (bpd), citing…HSBC Sees OPEC+ Output Hikes Weighing on Oil Prices in Late 2025
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