The price of Brent dropped more than 4% to $31.48 a barrel on Thursday, as OPEC+ agreement to cut production failed to offer support after Mexico exit talks, threatening the final deal. On the week, Brent prices were down 8%. London markets for commodities will be closed on the Good Friday.
Historically, Brent crude oil reached an all time high of 147.50 in July of 2008. Brent crude oil - data, forecasts, historical chart - was last updated on April of 2020.
Brent crude oil is expected to trade at 30.37 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 26.28 in 12 months time.