JPM forecast Brent oil to $86 at the end of 2023

JP Morgan on oil, expecting the price to rise. JPM pointing to inventories beginning to draw down as a key factor now at the amrgin.

• see Brent higher, in the $80s, during the July - September quarter
• see Brent finishing the year at $86

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Overnight re Russian production ICYMI:

• Russia's oil minister Novak:Companies will decide themselves whether to cut prod in August