JP Morgan is forecasting oil prices to surge over the next couple of years, with OPEC+ “firmly in the driver’s seat.” The firm expects prices to test $125 a barrel next year and shoot to $150 in 2023. JP says OPEC+ “has returned to a position of positive leverage, which it will defend by keeping inventories low, the market in balance and taking action to support optimal reservoir management through paced volume growth.”
The National Labor Relations Board has authorized a new union election at one of Amazon’s Alabama warehouses. The Retail, Wholesale and Department Store Union says an NLRB director formally granted a new union election at Amazon’s Bessemer warehouse. As a result, workers at the facility will get another chance to vote on whether to join the union. It’s not clear when the new election will take place.
