From another forum15 Feb 2024 23:57
RIGZONE, Thursday, February 15, 2024
Standard Chartered Reveals Where It Thinks Brent Oil Price Should Be
In a report sent to Rigzone late Tuesday, analysts at Standard Chartered said they still do not think crude oil prices fully reflect the rapid tightening of the market or the recent escalation of geopolitical risk.
The analysts noted in the report that, in their view, a Brent price above $90 per barrel “would more adequately reflect current fundamentals and risks”.
Standard Chartered projected in the report that the ICE Brent price will average $92 per barrel in the first quarter of this year, $94 per barrel in the second quarter, $98 per barrel in the third quarter, and $96 per barrel in the fourth quarter. The company expects the commodity to average $109 per barrel in 2025, $128 per barrel in 2026, and $115 per barrel in 2027, the report showed." Taken from the HBR BB.