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Oil $100-120/bbl H2: JP Morgan

OIL

JPMorgan Head of EMEA Energy Equity Research Christyan Malek says he expects crude to trade between $100 and $120 over the second half of this year.

  • He cautioned a "bumpy" return of demand from China.
  • "The idea that China is going to come back and that's going to see a one-to-one move in the price is flawed," he said.
  • He said JPMorgan are bearish energy equities in the short to medium term with the sector de-coupling from oil prices.
  • He added that ’dark’ Russian barrels on the market because of sanctions are obscuring global volumes.
Energy BulletsCommodities
Energy BulletsCommodities

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