S&P Global expects dated Brent crude to hit $55 per barrel by year-end

S&P Global anticipates a drop in Dated Brent crude prices. The price could hit $55 a barrel by the end of the year. OPEC’s decision to gradually increase output influences this forecast. Ample supply and continued Russian oil flow contribute to the expected price decline. Ample stock and commercial inventory may further lower the price. Contango situation indicates comfortable supplies.