Commodities research group forecasts $80-$90 a barrel average for 2020 – Energy Voice

This post was originally published and is credit to this site

BMI Research Group said oil prices had “strengthened faster than anticipated” and has upgraded its 2020 forecast to a $80-$90 per barrel range.

BMI expects Brent to average around $73 per barrel this year, up from its previous forecast of $67.

It has also revised its 2019 forecast to $77 from $75.

BMI said the new forecasts were down to “continuing demand growth” and “underinvestment in new supply”.