Bullish Brent On Demand, Cautious WTI On Supply
Oil & Gas / Global / Tue 04 Apr, 2017
We hold to our 2017 annual average forecast for Brent of USD57.00/bbl as we expect seasonally firming demand for crude and fuels in Q2 and Q3 to drive down inventories and offer support to prices. Price upside will however be capped by the recovering US shale sector and softer OPEC compliance over Q3. We have downgraded 2017 WTI to USD53.75/bbl, as