Rate cut cycle, further production cut announcement by Opec Plus could prop up oil prices: Nadia Elbilassy

September 4, 2024

According to Nadia Elbilassy of the Equiti Group, oil prices have been under pressure due to already factored-in production cuts and increased US oil production. Weak manufacturing data from China and a softening US economy have also contributed to the decline. The energy sector, including Indian companies, is expected to continue facing challenges until October.

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