JP Morgan: Oil Could Hit $78 Within Months Momentum is building, and EW is on the cusp on a major move higher. IMO, it's just a matter of time, and management focus.
J.P. Morgan beat all other investment banks in their forecasts for the price of Brent crude this year, setting its projection at US$70 a barrel. To compare, the second most bullish forecast on Brent is from Bank of America at US$64 a barrel, while Goldman is even more cautious and has not yet upgraded its Brent price forecast from its US$62 a barrel prediction.
J.P. Morgan’s reasoning is the same as the other banks’: the global economy will continue to expand, which will stimulate growth in oil demand and healthy prices. This dynamic will also drive WTI prices higher, with the average for the year seen at US$65.63 a barrel by J.P. Morgan’s oil analysts.
https://oilprice.com/Energy/Energy-General/JP-Morgan-Oil-Could-Hit-78-Within-Months.html