Geopolitics to keep Brent price over $70/ barrel in April – May - Barclays

Analysts at Barclays are out with their latest forecast report on Brent oil for 2018 and 2019.

Key Highlights:

“Geopolitics is to keep Brent price over $70 in April – May.

Raise their 2018, 2019 average oil price forecasts.

Brent prices seen averaging $63 in 2018, $60 in 2019 when compared to the previous forecast for $60 in 2018, $57 in 2019.

Raises Q2 Brent forecast to $68 from $62.

There is a high likelihood of a downward correction in prices during the second-half of this year.”