Strategists at Deutsche Bank see Brent at $92/bbl in Q4.
Brent could reach $100
Looking into the fourth quarter, we expect a supply-demand deficit of -1.1 mmb/d to follow the -1.4 mmb/d in Q3.
Our base case is that Brent Crude Oil prices average $92/bbl in Q4 (up from $85/bbl previously).
However, a median Brent quarterly range of 22% relative to the midpoint is wide enough to encompass the possibility of Brent reaching $100/bbl.