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- Brent Oil to see further gains towards $70 by year-end - Danske Bank
Brent Oil to see further gains towards $70 by year-end - Danske Bank
FXStreet reports that economists at Danske Bank believe that the ongoing vaccine roll-out, reopening of economies and growing inflationary pressure has brightened the outlook for oil prices.
“Vaccines roll out, reopening of economies, strong support from monetary and fiscal policy and a relatively weak dollar all creates a sound back drop for global oil demand.”
“We have revised our oil price forecasts higher and now expect Brent to average $65/bbl in Q2 (from $55/bbl), $70bbl in Q3 and Q4 (from $60/bbl (and $72.5bbl in 2022 (from $65/bbl)."
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