Standard & Poor's cuts its price forecasts for Brent and WTI crude oil

Market news

28 September 2015

Standard & Poor's cuts its price forecasts for Brent and WTI crude oil

Standard & Poor's (S&P) lowered its price forecasts for Brent and WTI crude oil on Friday. The agency expects Brent crude oil to be $50 in 2015, down from the previous estimate of $55, and WTI crude oil to be $45 in 2015, down from the previous estimate of $50. Brent crude oil in 2016 is expected to be $55, while WTI crude oil in 2016 is expected to be $50.

It will take longer for prices to recover, the agency said.

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