Middle East Economic Survey
VOL. XLVIII
No 17
25-April-2005
UBS Revises 2005 Brent Price Forecast To Conservative $45.20/B
UBS has raised its forecast for the average Brent crude oil price for 2005 by 10% to $45.20, and for 2006 to $40.00/B, and maintained its 2007 estimate at $32.50/B. In the European Oil And Gas report of 19 April, a team of UBS analysts led by Jon Rigby says that, despite the raised forecast, their prediction remains below the level suggested by recent pricing trends, because...
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