Oil prices will descend in the next six to nine months, with Brent falling from $113 a barrel at present to around $85 by the middle of next year, according to leading economist Robin Bew.
Bew, editorial director and chief economist at The Economist Intelligence Unit, expects the price to hit a trough due to a number of corroborating factors. While a weaker US economy has now been priced into the market for some time, we are now beginning to see changes in the expected growth rates in the Eurozone and a realisation that the emerging world is not immune to this, says Bew. Bew explained: "All of that is acting to slow oil demand growth in the emerging world and you're actually seeing oil demand fall in the developed world. Those things combined mean that the oil market, whic...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
