Brent to average $90 this year, implying higher Oil prices in the coming months – OCBC

Strategists at OCBC Bank discuss Brent Crude Oil outlook.

Brent Crude Oil to trade in a range-bound manner in the near term

We maintain our forecast for Brent Crude Oil prices to average ~$90/bbl this year implying higher Oil prices in the coming months. 

That said, in the near term, we expect Brent Crude Oil to trade in a range-bound manner ($70-80/bbl) as demand concerns outweigh supply considerations.

See: WTI to approach the $90 mark in the latter part of the year – TDS