Fitch revises 2019 oil price forecast for the second time in November

Fitch revises 2019 oil price forecast for the second time in November Baku. 28 November. REPORT.AZ/ Fitch Solutions has revised its oil price forecasts on Brent oil for 2019, second time in November.
Energy
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November 28, 2018 08:57
Fitch revises 2019 oil price forecast for the second time in November

Baku. 28 November. REPORT.AZ/ Fitch Solutions has revised its oil price forecasts on Brent oil for 2019, second time in November.

According to Report, the agency stressed the 'lowering of the basic forecast mostly due to softening of the US position on Iran'.

The analysts now forecast that Brent will average $75 per barrel, not $81 per barrel, as was expected in early November.

The forecast for WTI was revised to $69 from $75 per barrel.

"Our view of demand and supply has not changed radically, but the balance in the world is now most likely tending towards fuel surplus on the market," Fitch said in a statement. 

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