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CORRECTED-FACTBOX-Analysts raise oil price forecasts
March 8, 2011 / 9:38 PM / 7 years ago

CORRECTED-FACTBOX-Analysts raise oil price forecasts

 (Corrects table to say JP Morgan raised Brent oil forecast to
$108 and WTI to $96 for Q1 2011, not full-year 2011)
 March 8 - Analysts from different brokerages have raised
2011 oil price forecasts well above $100 a barrel, after
concerns over supply disruptions due to the ongoing Libyan
unrest pushed oil prices to touch 2-1/2 year highs.
 The price forecasts for ICE Brent crude LCOc1, which is
being considered as the best measure of the global oil market,
ranges between $105 to $122 a barrel among the bullish
brokerages.
 Brent crude leapt to a 2-1/2 year high of nearly $120 a
barrel on Feb. 24.
 Here is a list of brokerages and their changes in oil price
outlook.
--------------------------------------------------------------
BROKERAGE      ACTION                                    DATE
--------------------------------------------------------------
JP Morgan      Raises Q1 2011 Brent oil forecast        Feb.25
            to $108 a barrel from the previous $95
            Raises Q1 2011 average forecast for U.S.
            benchmark WTI CLc1 crude prices by
            3.2 percent to $96 a barrel.
--------------------------------------------------------------
Citigroup      Raises 2011 Brent crude price forecast   Mar. 7
            to $105 from $90
            Ups 2011 WTI price forecast to $94 a
            barrel from $91.
            Also raises 2012 Brent estimate to $100
            a barrel from $90, and for WTI to $95
            from $91.
--------------------------------------------------------------
Commerzbank    Raises Q2 2011 forecast for Brent        Mar. 7
            crude to $120 a barrel from $93
--------------------------------------------------------------
ANZ            Raises Q1 2011 forecast for Brent        Mar. 7
            crude to $110 a barrel from $98.
            Ups WTI to $100 from $95 for the same
            period.
--------------------------------------------------------------
Goldman Sachs  Raises Q2 2011 Brent crude forecast      Mar. 8
            to $105 a barrel from $100.50
--------------------------------------------------------------
BofA Merrill   Raises Q2 2011 forecast for Brent        Mar. 8
            crude to $122 a barrel from $86
            Sees yearly average price for Brent
            at $108 a barrel, up from $88
            Also sees yearly average for WTI crude
            at $101 a barrel, up from $87
--------------------------------------------------------------
 (Compiled by Koustav Samanta and Ratul Ray Chaudhuri in
Bangalore; Editing by Marguerita Choy)






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