Credit Suisse Lowers Oil-Price Estimates

Credit Suisse lowered its oil-price forecast for Brent crude and WTI crude. It cut its Brent crude forecast by 17% and WTI crude forecast by 19%. In 2012, Credit Suisse expects Brent crude to average $104.35 per barrel, versus its earlier view of $125 per barrel. It projects WTI crude to average $90.58 per barrel, versus $112 per barrel. Credit Suisse expects Brent crude to average $102.50 per barrel and WTI crude to average $97 per barrel in 2013.