Barclays, a British multinational investment bank and financial services company, has revised its Brent price forecast for 2020 markedly upward from $55 to $75 per barrel, it said in its latest Oil Special Report.

Barclays remains bullish on prices by 2025, yet it has raised its target from $70 to $80 per barrel, around $15 higher than the curve.

Medium-term oil price modelling requires a certain amount of humility, Barclays said, adding that it tested how prices might react and forecast a range between $68 and $81 in 2020 and between $69 and $85 by 2025. – TradeArabia News Service