(Calgary) Crude oil prices will rise slightly over the next three months, forecasts Deloitte Canada in a new report.
The drop in supply will begin to deplete global crude stocks, the document produced by Deloitte’s Resource Assessment and Advisory Group points out.
Production cuts, including an additional one million barrels per day recently announced by Saudi Arabia, should help support prices despite weaker demand, the report said.
Deloitte also says high seasonal natural gas storage levels in Europe, combined with weaker demand due to a warmer than expected winter, have lowered natural gas prices and reduced demand for gas imports. natural liquid.
Lower global demand and higher production in North America led to volatility in Canadian natural gas prices over the past quarter, the report said.
Deloitte suggests that this situation could be exacerbated this summer by more extensive maintenance operations than in previous years, which will lead to the temporary closure of certain pipeline segments.