EMs to drive oil demand in H2 2025: Peter McGuire

Peter McGuire suggests oil prices are rangebound, influenced by growth in Brazil, China, and India. Despite OPEC+’s unchanged demand forecast, continued economic re-engagement should sustain consumption. The market anticipates OPEC+ potentially pausing output hikes after September, contingent on tariffs, inflation, and compliance. McGuire expects a Q4 glut, leading to cheaper oil prices due to increased production.

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