{"id":514572,"date":"2022-08-17T09:41:29","date_gmt":"2022-08-17T04:11:29","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=514572"},"modified":"2022-08-17T10:25:41","modified_gmt":"2022-08-17T04:55:41","slug":"barclays-sees-crude-oil-surplus-in-near-term-cuts-brent-price-view","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/barclays-sees-crude-oil-surplus-in-near-term-cuts-brent-price-view\/","title":{"rendered":"Barclays sees crude oil surplus in near-term, cuts Brent price view"},"content":{"rendered":"<p>Barclays lowered its Brent price forecasts on Tuesday by $8 per barrel for 2022 and 2023, as it expects a large surplus of crude oil over the near-term due to &#8220;resilient&#8221; Russian supplies.<\/p>\n<p>The British bank now sees Brent crude averaging $103 this year and next, and U.S. West Texas Intermediate (WTI) to average $99 for both years.<\/p>\n<p>Benchmark Brent crude futures were trading around $94 a barrel on Tuesday, while WTI futures were slightly below $89. [O\/R]<\/p>\n<p>The recent move lower in prices is primarily a timing issue, as resilient Russian supplies before the European Union&#8217;s sanctions kick in later this year have coincided with elevated concerns of a broader slowdown, the bank said in a note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Barclays lowered its Brent price forecasts on Tuesday by $8 per barrel for 2022 and 2023, as it expects a large surplus of crude oil over the near-term due to &#8220;resilient&#8221; Russian supplies. The British bank now sees Brent crude averaging $103 this year and next, and U.S. West Texas Intermediate (WTI) to average $99 for both years. Benchmark Brent crude futures were trading around $94 a barrel on Tuesday, while WTI futures were slightly below $89. [O\/R] The recent move lower in prices is primarily a timing issue, as resilient Russian supplies before the European Union&#8217;s sanctions kick in [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-514572","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/514572","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=514572"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/514572\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=514572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=514572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=514572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}