The revision, which will filter into the firm's ratings for both oil producers and importers, comes just two months after it lowered its forecast to $55 per barrel from $65 per barrel.
Reuters
@moneycontrolcom
Rating agency S&P Global raised its Brent oil price assumptions back up to $60 a barrel on Wednesday, on the back of recent production cuts by OPEC and Russia.
The revision, which will filter into the firm's ratings for both oil producers and importers, comes just two months after it lowered its forecast to $55 per barrel from $65 per barrel. It also keeps it well below the $64-$68 range that Brent crude has been moving in over the last month.
"This most recent revision reflects the changing circumstances of the global economy and oil production in major regions," S&P said.
First Published on Mar 20, 2019 07:44 pm
