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Oil price recovery expected

Released

Price forecasts 4Jan

The oil price is down 70% since the downturn started in June 2014, but most analysts expect a gradual recovery.

According to a Reuters poll, Brent is seen averaging $52.5 a barrel in 2016 – which is close to the 2015 average and $20 higher than today’s price. Analysts have cut their oil price forecasts for seven consecutive months, but uncertainty is still high with forecasts ranging from $38 to $65 a barrel this year.

Anyway, all analysts expect a strengthening of prices from 2017, and 19 of 20 analysts forecast prices above the future curve.

Updated