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UBS: As inventories fall, third-quarter oil prices could rise to $90 a barrel
July 4th data from Jinshi, UBS said that with the reduction of inventory, oil prices may rise to $90 per barrel this quarter. The bank's strategist, Giovanni Staunovo, said that as demand remains stable and supply growth is limited, oil stocks have begun to decline, and investors have begun to rebuild their oil exposure. The bank expects that as OPEC+ continues to cut production this quarter, oil inventories will "substantially decline" in the coming weeks.