Oil Needs Strong Demand Recovery To Break Out Above $40

Oil prices are unlikely to go much higher than current levels if global oil demand recovery doesn’t pick up in a meaningful way in the second half of the year, the monthly Reuters poll of analysts and economists showed on Friday.   According to 43 experts surveyed by Reuters, Brent Crude prices will average $41.50 per barrel in 2020, an upward revision of $1 a barrel compared to last month’s forecast of $40.41 per barrel. The U.S. benchmark, WTI Crude, is projected to average $37.51 a barrel in 2020, up from $36.10 per barrel forecast…