OPEC+ in Driver's Seat as Oil Market Tightens, Prices Seen Rising to $100
• OPEC+ group has regained control of oil market and has power to tighten it further in H2 2024
• Market increasingly bullish on oil due to strong demand and constrained supply like OPEC+ cuts
• Vitol CEO expects robust 2024 oil demand growth of 1.9 million bpd
• Top traders and banks raise price forecasts, see $80-100/barrel oil this year
• OPEC+ could ease cuts if prices near $100 to avoid demand destruction and shale resurgence