Geopolitical events and concerns about China's recovery led to a volatile year for oil prices (BZ=F, CL=F) in 2023. Rebecca Babin, CIBC Private Wealth, US Senior Energy Trader joins Yahoo Finance Live to weigh in on what the major catalysts for oil will be in 2024. “The key for 2024 is going to be ‘what does US supply do?’” Babin says, pointing out how US oil production outpaced estimates. If the US continues to produce at that pace, Babin warns, there could be an over-supply. For 2024, in addition to US production, Babin advises investors to take keep an eye on China and Iran. Follow along with Yahoo Finance's 2024 Investor Guide for more expert insight, or click here to watch this full episode of Yahoo Finance Live.
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