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DB Crude Oil Long Exchange Traded Notes due June 1 2038
My forecast for April is that the West Texas Intermediate oil price will range between $57.50 and $67.50 per barrel. The range is $2.50 higher than last month's forecast.
The price has been slowly creeping up as OPEC+'s cutbacks take effect. Saudi Arabia, in particular, is driving prices higher according to a Reuters article "More shale, who cares? Saudi Arabia pushes for at least $70 oil," where it states the following:
DUBAI/LONDON (Reuters) - Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources