Well they are at it again. Here's how the highly-remunerated eejits at the investment banks' analyst departments see the price of US crude oil (usually lower than the Brent price, though not much so just now) for 1Q and 2Q 2016. Yup, that's this quarter and next.
1Q 2QYes, all of them see steady rises through the year (except the rather quirky UBS, who perhaps don't keep changing their numbers - because they believe in their methodology, maybe ... nah, silly). Then again, all of them forecast prices to rise steadily through 2015, and none of them was even close, really.
Barclays 29 33 (go Barclays! - you stand half a chance ...)
SocGen 32 38
JPMorgan 33 49
ING 35 40
BoA 36 42
Morgan S 38 43
Citi 40 44
Std Chrt 44 53
Goldmans 45 50
Deutsche 45 50
Cr.Suisse 47 56
UBS 50 50 (also 4Q last year - what is it with UBS and 50 ??)
If any of these people are right, it will only be on the stopped-clock principle. I have their numbers for 3Q and 4Q, too - and who knows, we may return to them later in the year. Now, remind me: how are things panning out just at the minute ..?