ABN AMRO’s oil price forecast has been revised lower again due to coronavirus-related measures and a much bigger oil demand shock while high build of inventories will cap much of the upside potential for oil prices. Key quotes “We see a sharp drop in global demand. This is leading to higher inventories. The impact on supply will come with a delay. This combination will keep oil prices under pressure and cap upside potential.” “Our Q2 forecast is similar to the 2016 lows. Further downside could be seen, but will be temporary. In line with the economic recovery in H2, oil prices are expected to recover in H2 as well.” “Due to oversupply and even bigger inventories, the upside potential may be limited to USD 50/bbl in 2021.” FX Street 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 Post By FX Street FXStreet News share Read Next WTI tumbles to fresh lows near $22.80 per barrel FX Street 2 years ABN AMRO’s oil price forecast has been revised lower again due to coronavirus-related measures and a much bigger oil demand shock while high build of inventories will cap much of the upside potential for oil prices. Key quotes “We see a sharp drop in global demand. This is leading to higher inventories. The impact on supply will come with a delay. This combination will keep oil prices under pressure and cap upside potential.” “Our Q2 forecast is similar to the 2016 lows. Further downside could be seen, but will be temporary. In line with the economic recovery in H2, oil… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
