Brent seen at $70/bbl forecast in 2019 – Barclays

FX Street

Updated: 4 Mar. 2019 | 03:57

In its latest client note, the Barclays Research Team maintained the Brent price-forecast for 2019 at $70/bbl.

Key Quotes:

“Brent seen at $70/bbl forecast in 2019

OPEC wants higher prices.

Large supply surplus from 4Q 2018 may still drive inventories higher in H1 of 2019.

Market currently focused on global macroeconomic conditions, Trump’s tweets, US policy and publicly-reported U.S. E&P industry data — factors could set too bearish sentiment.

Global macro conditions aside, oil demand seems to be holding up.”

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.