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- Oil: Brent may revert to above $40 per barrel by the end of the year – Credit Suisse
Oil: Brent may revert to above $40 per barrel by the end of the year – Credit Suisse
FXStreet reports that strategists at Credit Suisse believe in oil prices not much driven by the agreed production cuts in the coming months, but rather by the level of virus-stricken demand.
“Given uncertainty of the immediate demand and always questionable quota discipline of producers, Brent prices may fall to between $25 and $30 per barrel of Brent.”
“The future of oil prices will depend on whether the probable V-shaped restoration of demand would be met by supply both from production and storages. Assuming the pandemic does not take a new turn for the worse after early summer, Brent prices may revert to above $40 per barrel by the end of the year.”
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