STANDARD & Poor’s has revised its oil price outlook for this year, slashing US$10 off the price of Brent crude, putting it at $55 per barrel, below its own previous forecasts and others that range from BP CEO Bob Dudley to Australian consultancy Energy Quest which all suggested $65/bbl oil.
US shale growth:“effectively undercuts the OPEC’s efforts to balance the market” S&P
The West Texas Intermediate outlook has been lowered by $5, to $50/bbl. This comes after the four year oil price highs of above $80/bbl just a few months ago and, as the firm notes, suggestions...
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