Via Société Générale now, ICE Brent forecast USD 70 in Q3
- to trade 62-75 range over next 12 months
- average 67.50 in 2019
Nymex WTI
- 64 USD in Q3
- $55-$69 range over next 12 months
- $60 average in 2019
Citing:
- Iran, Venezuela the biggest upside risks to oil market outlook
- Saudi Arabia unlikely to proactively increase output to make up for supply disruptions