JPMorgan lowered Brent price forecast for 2019

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Scott Darling, head of the Asia-Pacific oil and gas research department at JPMorgan Chase, told CNBC that the American bank had changed its forecast for the price of Brent crude for 2019, lowering it from $83.5 to $73 per barrel. For 2020, the average price of Brent crude oil is expected at the level of $64 per barrel. The growth of production in North America expected in the second half of 2019 IS the main reason for the decline in forecast. According to Darling, in order to eliminate the imbalance of supply and demand in the oil market, OPEC members and their partners need to cut production by 1.2 million barrels per day next year.

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