Oil price forecasts raised for the 1st time in 10 months – Reuters poll

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The latest Reuters poll result showed that the economists and oil analysts raised the average oil price forecasts for 2016 for the first time in 10 months, although with a cautious tone.

    Key Findings:

    Raised their average price forecasts for 2016 for the first time in 10 months

    Survey of 31 economists and analysts

    Forecast benchmark Brent crude would average $38.60 a barrel in Q2 2016 & second quarter of this year

    For 2016, analysts raised their average Brent forecast to $40.90 a barrel (from $40.10 in last month's survey)

    The reasons cited were as follows:

    The prospect of an agreement among the world's largest producers to keep oil output at January's levels
    Decline in U.S. shale oil output
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