Reuters Poll: WTI seen averaging $84.84 in 2023
According to the findings of a recently conducted Reuters poll, the barrel of West Texas Intermediate (WTI) is expected to average $84.84 in 2023, down from $87.80 in November's survey.
The barrel of Brent is seen averaging $$89.37 in 2023, compared to $93.65 in November's survey.
The uncertainty surrounding the global economic outlook and heightened concerns over the impact of the coronavirus situation in China on the energy demand are cited as reasons behind the downward revisions.
Market reaction
Crude oil prices showed no immediate reaction to this headline and the WTI was last seen trading at $78.22, where it was down 0.65% on the day.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
