The latest survey found that analysts have lowered their forecasts for oil prices in 2024 for the fifth consecutive month, citing weak demand and uncertainty over OPEC's plans. Despite geopolitical risks, oil prices are expected to continue to face pressure. A survey of 41 analysts and economists predicts that the average price of Brent crude oil in 2024 will be $81.52 per barrel, the lowest expectation since February, with an expectation of $82.86 per barrel in August. The average price of US crude oil is expected to be $77.64 per barrel, lower than the previous month's estimate of $78.82 per barrel. Roger Reed, senior energy analyst at Wells Fargo & Co, stated: "One of the recent reasons for the softening oil prices is the market's concerns over how and when OPEC will increase crude oil supply to the market, as well as the weakening demand indicators in certain regions."