Barclays raises oil price outlook, expects limited downside to demand view

(Reuters) - Barclays Commodities Research on Monday raised its oil price forecasts for 2020, citing limited potential downside to its demand outlook. The bank raised its 2020 Brent and U.S.

West Texas Intermediate (WTI) price forecasts by $2 to $43 per barrel and $39, respectively. For 2021, the bank expects Brent and WTI prices to average $53 and $50 per barrel, respectively. "We remain constructive on oil prices for next year as we see limited potential downside to our demand outlook, primarily due to the evolving response.

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