Standard Chartered raised its forecast for Brent oil by 650%

Commodity analysts of British bank Standard Chartered radically revised their forecasts for the oil price.

According to the new bank's expectations, the end of the year, a barrel of Brent crude may rise in price more than doubled - up to 70-75 dollars.

"It follows from the supply and demand dynamics" - succinctly commented on his calculations senior economist at Standard Chartered Marios Marateftis (by Marketwatch quoted). According to him, the supply of oil to the global market can fall sharply in the second half of the year, and all the fears of oversupply based on the surplus of only about one million barrels per day.

Thus, for two and a half weeks on oil Standard Chartered forecast unchanged at 650%.

January 12 the bank's analysts predicted the drop in the value of "black gold" up to $ 10 per barrel, becoming champions of pessimism among experts.

While Standard Chartered referred to the fact that "no market indicators do not lead to oil market equilibrium price is almost entirely dependent on financial flows, caused by price fluctuations in other assets including the US dollar and stock markets."

At the time of the first oil bank forecast Brent cost 30.83 dollars per barrel, desheveya by 18% since the beginning of the year and by 3.5 times compared to the summer of 2014.

The second forecast was released after the quotes soared 21% this week - a 12-year low of 27.1 dollars per barrel on January 21 to 33.74 dollars per barrel at 13.18 MSK on Thursday.