From JP Morgan's monthly Oil Market report

2016:

  • For Brent, they've bumped 2016 prices forecasts to $41/barrel (up $3.50 per barrel previously)
  • For WTI, $40/bbl

2017:

  • Both Brent and WTI at $52/bbl (up $4.25/bbl from their prior forecast)
  • Expect the price to peak in 2017 during Q4, both around $60

Looking for prices to fall in the short term

They say:
"Bigger picture is still that the supply adjustment continues to build momentum and that should tighten balances during 2H16"