In a recent report, analysts at Macquarie slashed their estimates for crude oil prices in 2015 and beyond based on updated supply/demand numbers and economic forecasts. Analysts are now calling for short-term pain in the oil market.
The Numbers
Analysts reduced their 2015 projected prices for WTI and Brent crude oil prices by 23.5 percent and 24.3 percent respectively. Analysts are projecting WTI prices in 2015, 2016 and 2017 of $52/Bbl, $62/Bbl and $75/Bbl. They now see Brent prices for 2015, 2016 and 2017 of $56/Bbl, $68/Bbl and $81/Bbl.
The Reasoning
Macquarie’s revisions are mostly based on the supply/demand balance ...
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