All Quiet on Oil Price Forecast Front

A survey of 32 economists and analysts forecasts the North Sea Brent crude oil benchmark LCOc1 will average $69.13 per barrel in 2019, more than $5 lower than last month’s projection. From here. That's definitely breaking news, yep.

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According to a Bloomberg survey of oil analysts from the world`s biggest banks, the Brent benchmark is expected to rebound to average US$72.5 a barrel in 2019, more than 35 per cent higher than its current price of US$53.27 at press time. ...

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2 hours ago, Tom Kirkman said:

According to a Bloomberg survey of oil analysts from the world`s biggest banks, the Brent benchmark is expected to rebound to average US$72.5 a barrel in 2019, more than 35 per cent higher than its current price of US$53.27 at press time. ...

You may get your wish 😊

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35% is a big increase.

I wonder what they believe are the factors that could cause such an increase.

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Oh looky, CNBC scaremongering headline. 

Anyway, there seems to be a general consensus building around $70-ish Brent for 2019.  Just like I hoped for about a year ago.

First, here is CNBC scaremongering, followed by a more rational paragraph:

Oil prices just had their worst year since 2015 — here's what went wrong

In a year when Wall Street predicted oil would surpass $100 for the first time in four years, the oil market instead experienced its worst annual loss since 2015.

... Wall Street generally sees Brent bubbling back up to roughly $70 a barrel and WTI bouncing above $60. However, there are several key risks that could keep prices volatile, including U.S.-China trade tensions and the expiration of Trump's Iran sanctions waivers around the start of May. ...

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