AERC continues to forecast Brent crude oil prices on a monthly basis. AERC has improved its modeling base: the forecast is now based on 5 models (previously 4). In the current review, we have also structured the main events of the global oil market in the most convenient format.
AERC indicates that OPEC+ produced more oil than planned in April, according to the May IEA report, although the production volume was lower than in March. The largest production cuts in April were made by Russia and Kazakhstan.
For more details, please refer to the attached file.
