Oil prices expected to remain flat in 2024

Kenanga Research trimmed its 2024 Brent crude price assumption to US$84 per barrel, down from US$86 per barrel.

PETALING JAYA: Oil behemoths other than the United States are slashing their output going into 2024, but this has not stopped market experts from lowering their crude oil price forecasts for next year.

As for Malaysia, whose Budget 2024 was based on a Brent oil price assumption of US$85 per barrel, the lowered forecasts – while not alarming – are not to be taken lightly.