Moody's slashes oil forecast for 2016 by $10 a barrel | Business | The Guardian

Moody's slashes oil forecast for 2016 by $10 a barrel | Business | The Guardian:

"Moody’s has cut its oil price forecast for next year by $10 a barrel due to continued high levels of supply that may be heightened by the lifting of sanctions against Iran.

The credit rating agency slashed its price assumption for Brent crude, the international benchmark, to $43 a barrel from $53. For West Texas intermediate crude, the North American benchmark, it cut the forecast to $40 a barrel from $48.

Global oil demand will rise by about 1.3m barrels a day next year, higher than the previous estimate by Moody’s, as consumption increases in the US, China and Russia, the agency forecast."



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