UBS predicts Brent crude to average $80 in 2023
UBS Bank has downgraded its forecast for Brent crude oil prices to $80 per barrel by the end of the year, expecting them to stay at the same level through December. This adjustment is due to increased oil flows through the Strait of Hormuz following the memorandum of understanding between the United States and Iran. The bank has also lowered its outlook for 2027 to $75, considering that the return of supplies and improved flows will alleviate price pressures.
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