52 days ago • Posted by Charles-Henry Monchau
Oil price upgrades are on their way
JP Morgan ups oil price forecasts. Despite the COVID situation the team sees that investors continue to “look through” the current situation to a time when mobility is normalized. They see OECD inventory normalizing by August 2021 vs. December in their previous forecast. WTI is forecasted to average $58/bbl in 2021 and $62 in 2022. Will energy stocks continue their catch-up with the rest of the market?