- Analytics
- News and Tools
- Market News
- Brent Oil to advance nicely towards $75 in the second half of the year – UBS
Brent Oil to advance nicely towards $75 in the second half of the year – UBS
FXStreet reports that in the view of strategists at UBS, the drop in oil prices is likely to be short-lived and forecast Bren Oil at $75/bbl in the second half of 2021.
“Vaccination progress has been uneven across countries. But in nations where vaccinations have been progressing more rapidly, reopening plans are more advanced. We believe this points to the direction of travel as laggards ramp up vaccination. As reopening progresses we expect oil demand to recover to 100mbpd later this year from current levels around 94mbpd. Meanwhile, oil exporters remain committed to keeping supply constrained, and we expect OPEC+ to reduce production cuts only when demand recovers.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
