{"id":376523,"date":"2020-10-03T11:31:47","date_gmt":"2020-10-03T06:01:47","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=376523"},"modified":"2020-10-03T11:31:47","modified_gmt":"2020-10-03T06:01:47","slug":"oils-recovery-set-to-drag-on-beyond-next-year","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oils-recovery-set-to-drag-on-beyond-next-year\/","title":{"rendered":"Oil\u2019s recovery set to drag on beyond next year"},"content":{"rendered":"<p>Oil prices won\u2019t recover to pre-coronavirus levels by the end of next year, investment banks say.<\/p>\n<p>A group of 10 investment banks polled by The Wall Street Journal forecast that futures for Brent crude oil, the global benchmark, will average $53.50 a barrel in 2021\u2019s fourth quarter. U.S. benchmark West Texas Intermediate futures will average $50.31 a barrel in the same quarter, they estimated.<\/p>\n<p>While that means those institutions expect both benchmarks to rally $10 a barrel from their average forecasts for 2020\u2019s final quarter, they forecast that Brent prices will remain well short of the $60-a-barrel pre-lockdown levels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices won\u2019t recover to pre-coronavirus levels by the end of next year, investment banks say. A group of 10 investment banks polled by The Wall Street Journal forecast that futures for Brent crude oil, the global benchmark, will average $53.50 a barrel in 2021\u2019s fourth quarter. U.S. benchmark West Texas Intermediate futures will average $50.31 a barrel in the same quarter, they estimated. While that means those institutions expect both benchmarks to rally $10 a barrel from their average forecasts for 2020\u2019s final quarter, they forecast that Brent prices will remain well short of the $60-a-barrel pre-lockdown levels.<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-376523","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=376523"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376523\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=376523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=376523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=376523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}