Deutsche Bank expects crude oil prices to drop considerably next year, dipping below $60 per barrel in New York, the bank said in a note. "It would be misguided to think of an OPEC pause on Thursday as bullish, since we have assumed that in our model and still end up with a surplus in Q1," the Deutsche analysts said, as quoted by Bloomberg.
"We would be sellers of a rally in crude on the back of an OPEC pause," they also said. Most other banks are forecasting higher prices for crude oil: JP Morgan analysts recently forecast Brent crude reaching…Deutsche Bank Bucks Bullish Oil Predictions
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