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

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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”.