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Barclays ups 2014 crude oil prices above forecast

Posted on 04 March 2014

Barclays raised its 2014 crude oil price forecasts on expected higher oil demand and investor interest levels, coupled with low inventory figures and high geopolitical risks. The bank raised its average WTI price forecast for 2014 to $99 per barrel from the earlier estimated $97, and its average 2014 Brent price rose to $106 per barrel from $105.
“Global supply trends have also been supportive recently,” the bank said, adding that the high level of OPEC outages have been “cushioning downward price pressure and supporting the economic viability of extra incremental US oil”………………………………………..Full Article: Source


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