Oil Price Forecasts Drop for 2016

Posted November 9, 2015 at 2:12pm

Fuel Fix reports that “oil price forecasts are falling once again, as analysts are increasingly expecting a bleaker 2016 for the energy industry.”  

“On Monday, both debt evaluation group Fitch Ratings and financial services firm Raymond James said they had lowered their expected oil prices through 2016. Both groups join a growing number of analysts who are calling oil’s problems too tough to solve this year or next.”  

“Fitch said it’s now expecting U.S. oil to average $50 per barrel in 2016 and $60 per barrel in 2017. The group also cut its Brent crude forecast, the global benchmark, to $55 per barrel in 2016 and $65 per barrel in 2017.”