"But if demand falls to a lesser extent, the Saudi move would also help to accelerate the process of reducing oil inventories."
The bank expects Brent to trade at $63 per barrel in the second half of 2021 and WTI to trade at a $3 per barrel discount to Brent prices.
(Reporting by Nakul Iyer and Swati Verma in Bengaluru; editing by Uttaresh.V)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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