OREANDA-NEWS. London-based bank Barclays has revised downwards its price forecasts for Brent and WTI crude in 2015 and 2016.

Barclays now sees Brent averaging $55/bl this year, a cut of $5/bl from its previous forecast. It puts Brent at $63/bl for full-year 2016, trimming $5/bl from the previous forecast.

The bank now sees the 2015 WTI price averaging $50/bl, $4/bl lower than previously forecast. WTI is now expected to average $59/bl next year, a cut of $5/bl.