Brent Crude Oil to end 2023 at $80 – Deutsche Bank

Brent Crude Oil has moving back into positive territory on a YTD basis. Economists at Deutsche Bank see prices at $80 by the end of the next year.

Supply disruption to temporarily lift Brent to $100 in Q1 2023

“Our bias is to the downside in price beyond the next quarter, as we see 2023 global inventory unchanged from Q4 2022 but higher versus the 2022 average.”

“Although supply disruption temporarily lifts Brent to $100/bbl in Q1 2023, prices resume their decline to Brent $80/bbl at year end of 2023.”