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JPM Axes Int'l Oil Price Forecasts; End-19E Brent Oil Price at US$59/Bbl
2019-07-18 11:36:41
As weaker-than-expected global oil demand will likely dampen oil price forecasts, JPMorgan lowered its end-2019 and end-2020 Brent oil price assumptions to US$59/bbl and US$52/bbl (from US$65/bbl and US$59/bbl).

The broker also projected the average Brent oil price at US$63.7/bbl and US$55.7/bbl in 2019 and 2020, respectively down by US$2.7/bbl and US$5.8/bbl from its June projections.

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