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    Brent Crude Oil to reach $88 by year-end – Deutsche Bank

    Source Fxstreet
    Feb 21, 2024 10:36

    Strategists at Deutsche Bank forecast Brent at $88/bbl by the end of 2024.

    Continued OPEC+ discipline in a nearly balanced market for H1, and seasonal strength in H2

    2024 Brent forecast at $88/bbl.

    We look for continued OPEC+ discipline in a nearly balanced market for H1, and seasonal strength in H2.

    With January OPEC compliance with voluntary curbs at ~50%, we see little upside for our H1 Brent $83/bbl.

    The first possibility of relaxation of OPEC+ supply cuts will be in Q3 against a backdrop of tighter balances and higher prices, underpinned by seasonal strength.

     

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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