PTT reveals Q3 oil analysis
Concerns about the potential global recession and policy interest rate hikes by central banks in many countries to reduce the heat of inflation have pressured oil market demand and crude oil prices. ICE Brent August 2022 fell from the second quarter by US$14 per barrel to US$97.7 per barrel, the lowest in six months since Russia’s invasion of Ukraine at the end of February 2022. The Consumer Price Index (CPI), which indicates the rate of inflation, was 8.3% and 9.1% in the United States and Eurozone respectively in August 2022. The market expects central banks across the globe to continue tightening monetary policy.
