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My July West Texas Intermediate oil price forecast ranges between $55.00 and $65.00 per barrel. The range is the same as last month's forecast.
My prior forecast was wrong. June oil prices were much lower than I expected. The US-China negotiations broke down, and the global economy appears to be decelerating, which raises demand concerns.
At the G20, Presidents Xi and Trump agreed to restart trade negotiations. And according to the Wall Street Journal article "Russia, Saudi Arabia Reach Oil Output Agreement Ahead of OPEC Talks," Russian President Putin and Saudi Crown Prince Mohammed bin