Oil price forecast, lower to end of 2020

Via UBS, their WTI Q4 2020 price forecast is $31

Snippets from the report:
The 6 June OPEC+ meeting agreed a first phase extension by a month to July 
  • Recent additional cuts of ~1.2Mbd from Saudi/UAE/Kuwait/Oman will not extend
  • tone on compliance is harder
past 2-3 months has been the rapid fall in US production
  • Oil price rebound likely prompts some of this production back in coming months and  
next OPEC+ meeting scheduled for 1 December 
  • monthly JMMC meetings will monitor market developments and OPEC+ compliance behaviour, which has helped with the price rebound.