Nasdaq Barclays lowered its Brent price forecasts on Tuesday by $8 per barrel for 2022 and 2023, as it expects a large surplus of crude oil over the near-term due to “resilient” Russian supplies. The British bank now sees Brent crude averaging $103 this year and next, and U.S. West Texas Intermediate (WTI) to average $99 for both years.
Reuters Barclays raised its 2021 oil price forecast on Thursday, citing weaker than expected supply response from U.S. producers to higher prices and normalizing inventories after last week’s cold storm in Texas. The bank increased its 2021 Brent crude oil price outlook by $7 to $62 per barrel and West Texas Intermediate (WTI) crude price estimate by $6 to $58
Reuters Barclays kept its “above consensus” 2021 oil price forecasts on Monday, predicting Brent at $53 a barrel based on output discipline by OPEC and its allies, and based on a potential COVID-19 vaccine boosting demand in the second half. Potential rollouts of high-efficacy vaccines in the short term would be a turning point for demand as it could lead
Reuters Barclays Commodities Research said on Thursday oil prices could see a correction in the near-term if a recovery in fuel demand slows further, especially in the United States. While a recent rally has been supported by faster-than-expected rebalancing of supply and demand as countries reopen their economies, producers cut production and the U.S. dollar weakens, “we are not there
Reuters Barclays Commodities Research on Friday raised its oil price forecasts for this year and 2021, buoyed by supply cuts to balance the demand erosion caused by conrovirus-led restrictions. In recent days, several OPEC nations including Saudi Arabia said they will cut output more than originally pledged. Producers in the United States and Canada have cut production by 1.7 million
By Tyler Losier, Energy Reporter, Oil & Gas 360 Qatar Investment Authority acquires significant stake in Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners Qatar Investment Authority (QIA), the country’s sovereign wealth fund, will be acquiring a significant interest in Permian crude operator Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners, in addition to chipping in
Barclays’ coverage initiation on the oilservice sector last week could very well be summed up in two words: budget cuts. The London-based banking company says approximately 90% of the oilservice group is historically correlated to oil prices, and the dropping price will result in reduced budgets for E&Ps in the upcoming year. With less available capital for E&Ps, the oilservice
