30 Mar 2015
Oil prices could stabilize in H2 2015 – Reuters poll
FXStreet (Mumbai) - A Reuters poll of analysts showed today that oil prices could stabilize in the second half of 2015 and start rising in 2016 and 2017.
The survey of 34 analysts predicts that Brent Crude would average USD 59.20/barrel in 2015, up just 20 cents from the last month’s projection. The poll also showed Brent is expected to rise USD 72.10/barrel in 2016 and USD 78.70/barrel in 2017. The poll forecasts US light crude will average USD 53.60/barrel this year and USD 66.50/barrel in 2016.
Meanwhile, some analysts also see demand overtaking supply, “The global market is expected to move into supply deficit in the second half (this year), with that deficit reaching 1 million bpd in the fourth quarter," Standard Chartered analyst said.
Twenty of the 32 analysts who contributed to both the February and March Reuters polls left their 2015 Brent forecasts unchanged. The remaining 12 were equally divided on a bullish and a bearish side.
The survey of 34 analysts predicts that Brent Crude would average USD 59.20/barrel in 2015, up just 20 cents from the last month’s projection. The poll also showed Brent is expected to rise USD 72.10/barrel in 2016 and USD 78.70/barrel in 2017. The poll forecasts US light crude will average USD 53.60/barrel this year and USD 66.50/barrel in 2016.
Meanwhile, some analysts also see demand overtaking supply, “The global market is expected to move into supply deficit in the second half (this year), with that deficit reaching 1 million bpd in the fourth quarter," Standard Chartered analyst said.
Twenty of the 32 analysts who contributed to both the February and March Reuters polls left their 2015 Brent forecasts unchanged. The remaining 12 were equally divided on a bullish and a bearish side.