Related Articles
Forward article link
Share PDF with colleagues

Analysts turn bearish on oil prices amid sluggish economy

Analysts are lowering their oil price forecasts for this year on expectations of ample supply, weak demand and a sluggish global economy

ABN AMRO was the latest to cut its price forecast. The bank expects Brent prices to fall from an average of $112 a barrel in the first quarter of 2013 to around $105/b for the rest of the year. Prices for both Brent and WTI will tumble in the second quarter of 2013, ABN AMRO said, to $90/b and $80/b respectively. Prices, though, are expected to recover in the second half of the year. Demand should pick up in the summer, and supply worries and geo-political tensions could intensify boosting prices, the bank said in a note on 25 April. ABN AMRO sees prices trending lower over the next couple years. Brent is forecast to average $100/b in 2014, and could be as low as $90/b in 2015. WTI is seen

Also in this section
The price is right
5 April 2018
With the help of thirsty consumers and collapsing Venezuelan output, the market seems at last to have found its range
Opec and IEA bristle at Trump's trade posturing
16 March 2018
The IEA and Opec say Trump’s trade plans are a threat to global growth
Five key takeaways from the big three oil market reports
15 March 2018
Demand and supply data still diverge, Venezuela’s increasingly critical to balances, and some macro alarm bells are starting to ring