Barclays Raises Concerns Over Brent Oil Price Forecast
According to analysts at Barclays, risks to the current forecast of USD 90/bbl for Brent fair value in 2023 are skewed towards the upside. This suggests that oil prices could potentially rise above the current estimate.
Venezuela Shifts Oil Sales to Digital Currency
In an effort to avoid having its oil revenues frozen in foreign bank accounts, Venezuela is exploring the use of digital currency in its oil export transactions. The state-run oil company, PDVSA, will reportedly use Tether, which is pegged to the US dollar, as its chosen digital currency. This move allows Venezuela to circumvent potential sanctions and ensure that it receives payment for its oil exports.
