Capital Economics: Cutting year-end Brent oil price expectation from $70 to $60.

Oil futures rebounded from yesterday's decline, after OPEC+ decided to increase daily production by 411,000 barrels in June, widely seen as a change in OPEC's strategy. However, David Oxley, an analyst at Capital Economics, stated in a report: "Under similar conditions, the global oil market supply in the coming years will be better than previously thought." Capital Economics has lowered its year-end price forecast for Brent crude oil from $70 per barrel to $60, and its 2026 year-end price forecast from $60 to $50 per barrel. Oxley said, "OPEC may now assess on a monthly basis, which does not have much effect on calming price fluctuations."