Industrial Insight

Oil prices set to decline in third qtr. | May 19, 2015

What’s next for oil prices? After rallying by about 40% since their lows earlier this year, forecasts now by major banks paint a mixed picture but one that increasingly looks like a W-shaped recovery.

The average forecast in a MoneyBeat survey of 10 banks is for Brent, the global benchmark, to fall to an average of $63.35 a barrel in the third quarter of this year, down from around $66 on Tuesday. West Texas Intermediate, the U.S. marker, will average $58.40 a barrel next quarter, down from about $59 a barrel on Tuesday, according to the survey.

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1 Comment »

  1. When are oil prices likely to recover?

    Abou when oil prices will recovery, I think that not anytime soon. Oil production is still increasing in the United States and some other countries.

    But production is likely to begin declining in the second half of the year, and then crude prices will also begin to recover in a lasting way. The history of oil is of booms and busts followed by more of the same.

    Comment by BRUNO — May 21, 2015 @ 1:49 pm


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I'm the executive vice president for a steel casting trade association, the Steel Founders' Society of America. I've got a crazy wife, five crazy children, three crazy people that married into the family, and two crazy fun little grandsons.

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