Oil Prices Rebound Despite Projections of Continued Weak Demand

U.S. crude futures rise after a sharp decline, but analysts foresee ongoing demand challenges and ample supply.

U.S. crude oil futures increased nearly 1% on Monday after a significant drop last week.
Brent crude prices are predicted to average $75 per barrel in the fourth quarter of 2024, down from previous forecasts.
Analysts cite weak demand in China and seasonal factors as key reasons for the price volatility.
OPEC+ has delayed its planned production increase, now expected to start in December.
Morgan Stanley and other banks have lowered their oil price forecasts, reflecting concerns about a potential oversupply.