Keeps 2020 Brent as predicted earlier
Wood Mackenzie put out a prediction after watching Brent oil prices, which were trading at $62 per barrel on December 7, 2018 before falling to $51 per barrel on December 21, 2018. Mixed macroeconomic data have driven much of the volatility, with political uncertainty compounding concerns of a sharper than expected economic slowdown, Wood Mac said.

“Our analysis indicates the oil market was overbought in October, when Brent reached $85/b, and oversold in December when it dropped back to $51/b. Despite Wood Mackenzie arguing there was ample supply through to the end of 2019, fears of a lack of OPEC spare capacity, concerns of an ensuing supply crunch, and focus on a $100/b end-point back in October led ...


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