StanChart Finally Turns Bearish, Cuts Oil Price Forecast By $15/bbl

Last month, we reported that commodity analysts at Standard Chartered have been bucking the overwhelmingly bearish sentiment pervading Wall Street, maintaining a decidedly bullish outlook even as oil prices continue trending lower. StanChart has acknowledged that U.S. oil output has continued taking out all-time highs in the current year, with June production climbing by 133000 barrels per day to an all-time high of 13.58 million bpd. However, the analysts have been betting that U.S. producers will eventually be forced to curtail production due…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com