Brent Oil Prices Could Touch $57/b In 2017

Barclays analysts expect Brent oil prices to climb to $52/b in Q4 and $57/b next year, with the next three to four weeks offering ample opportunities to buy on a dip. Michael Cohen and his colleagues in the firm’s Commodities Research team said in their November 2 research piece titled “The Blue Drum – Helicopter Parenting” that they expect WTI backwardation by summer 2017.

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OPEC’s helicopter parenting approach will impact Brent oil market

Last September, OPEC struck a tentative deal in Algiers for a collective reduction in oil output in the 200,000 to 700,000 barrels range per day.

Cohen and colleagues at Barclays argue that since the Algiers meeting,...