2/20/2023 0 Comments Caret mark![]() ![]() Maintained quarterly forecasts for 2023 at $100 and above as it sees a firmer market from the second quarter. Cut price outlook for third quarter by $12 a barrel to $98 and lowered estimate for fourth quarter by $5 to $95.Bank reduced its near-term outlook for Brent due to inflation and a sharp slowdown in demand, analysts including Martijn Rats said in a note.Here’s a summary of what analysts are saying: It’s tipped to drop further over the next few months, although it may rebound next year as economies rebound and less Russian crude makes it to market. Morgan Stanley and UBS Group cut their near-term outlooks for crude by as much as $15 a barrel amid the deteriorating backdrop, and as Russian oil keeps flowing to Asia and elsewhere.īrent crude has plunged by around a third since peaking in early March following Russia’s invasion of Ukraine. Mounting fears of recessions in major economies as well as China’s inability to throw off its virus shackles have oil analysts slashing their price forecasts for the rest of this year. Loading Spinner An icon of a loading spinner. Success Tick Timeout An icon of a greyed out success tick. Information An icon of an information logo. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Video Camera An icon of a video camera shape. Previous An icon of an arrow pointing to the left. Notice An explanation mark centred inside a circle. Next An icon of an arrow pointing to the right. Hamburger Menu Icon An icon used to represent a collapsed menu. Search Icon A magnifying glass icon that is used to represent the function of searching. ![]() ![]() Magnifying Glass An icon of a magnifying glass. Comments An icon of a speech bubble, denoting user comments. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Breaking An icon of an exclamation mark on a circular background. Pause Icon A two-lined pause icon for stopping interactions. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Is Public An icon of a human eye and eyelashes. Telephone An icon of a traditional telephone receiver. Profile An icon that resembles human head and shoulders. Linked In An icon of the Linked In "in" mark. Facebook An icon of the Facebook "f" mark. Caret An icon of a block arrow pointing to the right. Cancel An icon of a circle with a diagonal line across. ![]()
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