Oil Price Fundamental Weekly Forecast - OPEC+ Decision on Supply Cuts Could Set the Tone fxempire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxempire.com Daily Mail and Mail on Sunday newspapers.
Bank of America (BofA) Global Research raised its outlook for Brent crude prices for 2021
Brent prices could rise to as much as $70 a barrel in Q2, BofA analysts write in a note
Brent crude oil price is up 23% in February to hit a 13-month high
Brent crude oil prices have soared 23% in February to hit the highest levels since January last year.
Fundamental analysis: BofA raises outlook
Bank of America (BofA) Global Research raised its outlook for Brent crude prices for 2021 on the back of decreased supplies as a result of Texas freeze and OPEC+ production cuts, as well as the unprecedented monetary stimulus from global central banks.
Barclays raised its 2021 oil price forecast on Thursday, citing weaker than expected supply response from U.S. producers to higher prices and normalizing inventories after last week s cold storm in Texas. The bank increased its 2021 Brent crude oil price outlook by $7 to $62 per barrel and West Texas Intermediate (WTI) crude price estimate by $6 to $58 a barrel. Colder-than-normal weather, especially in the southern states, has accelerated the normalization in inventories by disrupting output more than demand, the British bank said. U.S. energy firms last week cut the number of oil rigs operating for the first time since November as a freeze hit most of Texas.
Barclays lifts 2021 oil price outlook on tighter U S supply view | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Barclays lifts 2021 oil price outlook on tighter U S supply view wsau.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wsau.com Daily Mail and Mail on Sunday newspapers.