Barclays Now Sees Brent Crude At $67 In 2021

Barclays became on Thursday the latest bank to upgrade its forecasts for the average price of oil this year due to lower than previously expected supply from the United States. Citing normalizing inventories in the United States and a weaker response of the U.S. shale patch to rising oil prices, the UK bank raised its forecast for the average Brent Crude price this year to $62 a barrel, up by $7 per barrel compared to its previous projection. Barclays also lifted its WTI Crude estimate to average $58 per barrel in 2021, up by $6 a barrel compared…