Barclays Cuts Oil Price Forecast Due To Slower Demand Growth

Barclays lowered on Friday its Brent Crude price forecast for this year and next due to expected slowing growth in oil demand. The UK bank—which slashed in August its Brent oil price forecast to $103 per barrel for 2022 and 2023, down from $111 a barrel—is now cutting its Brent forecast by $3 per barrel for 2022 and by $5 a barrel for 2023, CN Wire reports, citing Barclays. However, the bank remains constructive with respect to the curve and consensus of oil prices.   Yet, if 2023 global oil demand is 1-2 million barrels per day…