Analysts have sharply cut North Sea crude price forecasts, but differ on the timing and speed of an eventual rebound, an Argus survey reveals. North Sea Dated prices, or Ice Brent futures, are expected to average around $58.50/bl this year, according to 13 analysts surveyed by Argus (see table, below). This is a drop of more than $17.50/bl on the previous survey in mid- December (AGM, 12 December, p2). Analysts agree that prices will be at their lowest in the first half of this year, when North Sea Dated will average $51.85/bl. But views differ over how far prices will rebound by the end of this year. Forecasts for the fourth quarter differ by up to $47/bl.
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