Wall Street Oil-Watchers Abandon Belief in a 2023 Price Rally
- JPMorgan joins Goldman Sachs in cutting price forecasts
- Supplies prove strong enough to meet growth in demand
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Wall Street oil-watchers have given up their belief in a rally this year.
JPMorgan Chase & Co. on Wednesday became the last of the major banks to slash crude price forecasts, cutting its Brent targets for the second-half by 11% to $82 a barrel.