We still see higher crude oil prices over the next 12 months, but various factors have caused us to cut our forecasts. At the beginning of September we lowered our forecast for December 2022 by USD 15/bbl. And we are now reducing our forecasts for March, June and September 2023 by USD 15/bbl and expect Brent to trade at USD 110/bbl and WTI at USD 107/bbl. Our forecast for December 2023 is also USD 110/bbl for Brent and USD 107/bbl for WTI.
Given our positive price outlook, we reiterate our…
