Oil experienced a bumpy ride in March as prices plunged mid-month on fears that weakness in the banking system could spark a full-blown recession.  Consequently, 1Q23 will likely close $3/bbl below our forecasted price of $85. Looking at the very near term, Brent at below $80 looks at least $5-7 oversold purely on fundamental reasons. What could act as a catalyst?

 

Speakers Natasha Kaneva, Head of Global Oil and Commodities Research

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