Size and timing of production rollover will depend on OPEC output
The Canadian Imperial Bank of Commerce (CIBC) released its Oil View today, making some changes to its price forecasts from its previous release in August. CIBC’s new call on WTI for 2015/2016 is $51.75/$61.25, down from $54.00/$62.50 in its previous report. CIBC also lowered its price forecast for European crude benchmark Brent to $57.25/$67.25 from $61.00/$70.50 for this year and next, respectively.

CIBC said the purpose of the revisions was “mainly narrowing our forecasted ...


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