Analysts' Missed Factors in 2023 Oil Price Predictions Contributed to Inaccurate Forecasts
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Oil prices have hit a two-month low due to concerns over China's demand for crude . The decline in demand from China has put pressure on oil prices . Additionally, tax revenues from the UK's oil and gas sector are projected to reach £50 billion over the next five years . HSBC predicts a potential double-digit rally in global stock markets next year if the Federal Reserve cuts interest rates and the US economy avoids a recession . Meanwhile, workers at Amazon are planning to go on strike over pay disputes .
The decline in oil prices is also attributed to concerns over waning demand in the United States and China . The US Energy Information Administration (EIA) has revised its forecast, expecting a decrease in crude production and a fall in demand . Weak economic data from China and the eur...
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