Brent: Q4 2017 price outlook raised to $62/bbl - Barclays

The Barclays Research Team came out with their latest report on Brent, raising its Q4 outlook for the commodity by $ 2 from the previous forecasts.

Key Points via Reuters:

“Raises Q4 2017 Brent price outlook to $62/bbl from $60/bbl, maintains 2018 price outlook of $55/bbl.

We attribute some of the recent strength in oil prices to temporary factors that are likely to reverse in 2018".

Depending on the Forties pipeline outage duration, inventories could draw even more quickly in Europe, keeping (Brent) prices elevated in the $60/bbl range.”