BRENT TO AVERAGE $90 THIS YEAR, IMPLYING HIGHER OIL PRICES IN THE COMING MONTHS

25 Jun 2023, 17:50 · 閱讀量 58

Strategists at OCBC Bank discuss Brent Crude Oil outlook.

Brent Crude Oil to trade in a range-bound manner in the near term

We maintain our forecast for Brent Crude Oil prices to average ~$90/bbl this year implying higher Oil prices in the coming months.

That said, in the near term, we expect Brent Crude Oil to trade in a range-bound manner ($70-80/bbl) as demand concerns outweigh supply considerations

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BRENT TO AVERAGE $90 THIS YEAR, IMPLYING HIGHER OIL PRICES IN THE COMING MONTHS – OCBC