UK-based bank Barclays has cut its price forecasts for Brent and WTI crude for this year. The bank sees Brent at an average $31/bl this year, and WTI at an average $28/bl, each lower by $12/bl from Barclays’ previous forecast. It sees the nadir in the second quarter, when it forecasts Brent will average $22/bl and WTI will average $19/bl.
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