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Oil & Gas News – Early November 2023

Estimated reading time 1 minute

Oil prices could rise to more than $150 a barrel if the conflict in the Middle East escalates, according to the World Bank.

A drawn-out war in the region could drive big rises in energy and food prices, just a year after prices spiked due to the Russian invasion of Ukraine.

For now, oil prices remain steady at around $90 a barrel and are predicted to fall.  However, the Bank warns that this outlook could quickly reverse.

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