Oil Outlook Forecasts: Many Providers, Differing Opinions. The Factors To Watch – Investing.com

Oil Outlook Forecasts: Many Providers, Differing Opinions. The Factors To Watch – Investing.com

There is a growing divide between the oil market forecasts coming from financial institutions and those coming from organizations and agencies involved in assessing the industry. OPEC, the IEA, and the EIA have all recently come out with new forecasts showing that the market is poised to switch from under-supplied to over-supplied much sooner than previously predicted. Which could, of course, help pressure prices lower.

Banks, on the other hand, continue to stand by their forecasts predicting that oil prices are poised to move even higher—in some cases into the triple digits.