- Barclays lowered on Friday its Brent Crude price forecast for this year and next due to expected slowing growth in oil demand.
- If the “zero-Covid” policy and the situation with the sudden lockdowns in China don’t improve, this will imply a $5-$10 per barrel downside to the Barclays forecast for 2023.
- Oil prices settled almost flat on Thursday as market participants focused again on fears of recessions that could slow oil demand, and were headed to a second consecutive weekly loss on Friday.
Barclays Cuts Oil Price Forecast Due To Slower Demand Growth
