ICYMI – Barclays highlights supply issue implying upside risk to its $92 Brent forecast | Forexlive

Barclay’s Brent crude oil forecast for 2023 is $92 a barrel. Analysts at the bank note that a protracted outage of Kurdish exports until the end of the year would imply a $3 / barrel upside to this price.

The background to this is that Iraq has halted exports of around 450,000 barrels per day (bpd) from its northern Kurdistan region through Turkey. Ankara, Baghdad and the KRG are seeking to find a settlement to resume exports.

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Aside from the Kurdistan issue Barclays says it remains constructive on oil regardless.

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Earlier oil news:

Oil update … bouncy!