Standard Chartered Global Research has maintained its somewhat bearish oil price outlook during the last couple of months, but last week, the investment bank suddenly turned bullish Standard Chartered raised its 2021 average Brent price forecast by USD 6/bbl to USD 71/bbl, and its 2022 forecast by USD 8/bbl to USD 67/bbl There has been a major dichotomy on Wall Street regarding the oil price trajectory, with some viewing the massive oil and gas rally as being temporary and transitory while the bulls have been saying this rally still has legs to run. Standard Chartered Global Research has been providing regular commodities updates, and made waves in August when they declared that a Brent price of $65/bbl or lower was more likely than $75/bbl or higher. Stanchart said its bearish view was informed by the fact that “… a significant amount of money has already entered the market in […]