Brent seen stabilizing this year – Danske Bank

Jens Pedersen, Senior Analyst at Danske Bank, believes the barrel of Brent crude should face some consolidation this year.

Key Quotes

“We maintain our view that oil prices will stay broadly stable this year. We forecast the price on Brent crude to average USD62/bbl in Q1 and Q2 and USD64/bbl in Q3 and Q4”.

“In 2019, we forecast the price on Brent crude to average USD65/bbl. We see asymmetric risks to our forecasts from risk of negative supply shock, e.g. if the US reinstates nuclear-related sanctions on Iran and the risk of a positive supply shock if OPEC and non-OPEC end production cuts early”.