Wall Street Journal reports on oil price: 'lower for longer', under $60 through 2016
A piece in the Wall Street Journal overnight says
- Analysts are growing more bearish about the oil price
The Journal surveyed 13 investment banks:
- Cut their average forecast for Brent crude by $9 to $58.70 a barrel, compared with last month's survey
- For West Texas Intermediate, average forecast is for $54.40 a barrel, also down $9 from August
Continued excess supply cited as the main driver
The Journal also include a handy 'dot plot', aren't these becoming popular?