1443 GMT - Oil prices are forecast to fall further in the coming months even if OPEC+ decides to delay its planned output hike, according to Capital Economics. The cartel and its allies are set to start raising output from early April, but market watchers widely expect the group to postpone its plans once again amid broad uncertainties around the global economic and geopolitical outlook. Meanwhile, global demand remains subdued despite a slight pick up in the fourth quarter of last year and non-OPEC+ growth is expected to remain robust. "OPEC+'s dilemma isn't set to get any easier this year," says economist Kieran Tompkins. "A further delay would be reflective of weak fundamentals in the oil market." (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
February 21, 2025 09:43 ET (14:43 GMT)
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