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However, the U.S. investment bank, in a note
published on Saturday, raised its view of the average 2015 Brent
price to $58 per barrel from its earlier forecast of $52 and
lifted its outlook for the average WTI price to $52 per barrel
from $48
The bank assumes a $5 per barrel Brent-WTI spread through
2016-2020, consistent with transportation economics.
On May 12, the U.S. investment bank had cautioned that the
recent rally in oil prices was 'premature,' and a sequential
weakening of prices was required for the rebalancing of the
market to resume.
Oil prices have recovered this year, after sharp falls prior to
2015. Benchmark Brent crude oil futures <LCOc1> has rallied
about 12 percent since the beginning of the year, and are up by
about 40 percent from their 2015 low.
To view a list of the forecast changes, click
(Reporting by Anupam Chatterjee and Vijaykumar Vedala in
Bengaluru Editing by W Simon)
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