JP Morgan gives its prediction for Brent crude in 2019:
Extracts:
JP Morgan has cut its outlook for oil, predicting that Brent crude prices will average $73 a barrel in 2019 — down from the investment bank's previous forecast of $83.50 a barrel.
JP Morgan expects the price of Brent, the international benchmark for oil, to go toward $64 in 2020.
To put these revised forecasts in perspective, from HZN's FY2018 AR:
Crude oil sales revenue of US$106.2 million (2017: US$68.0million) was generated during the financial year resulting from a net realised oil price of US$64.35 per barrel (2017: US$47.81).
DYOR
Oil price news, page-52
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