News Snapshot:
Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow BofA Securities commodity strategist Javier Blanch published his short and mid-term forecasts for global oil prices, “Coupled with limited US shale supply growth and OPEC’s tight grip on the market, we now expect the reopening of China to result in Brent crude oil prices averaging $88/bbl in 2023, down from $100/bbl prior, and $90/bbl in 2024. Why? Russian oil output has exceeded expectations in recent months due to lax EU/US sanctions (see Oil’s Potemkin problem). Yet oil prices should still recover as mobility in the...
