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Commodity strategyRising oil price forecast

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We have been expecting lower oil prices for some time. However, we now see a steady line of price-supporting factors playing out. We therefore increase our oil price forecast from USD 55 to USD 70 at the end of 2018. We continue to believe USD 50-55 is a reasonable range for supply and demand to grow in tandem in the longer term.

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Martin Jansson

Strategist

Commodities

nija03@handelsbanken.se

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