French bank forecasts Brent oil price at $ 100 per barrel in  2012

  
    LONDON, September 13  (Itar-Tass) - One of France's leading banks,
Societe Generale has published a research note suggesting that the
averaged price of a barrel of Brent crude will trade at $ 100 in 2012,
while the WTI blend is likely to show $ 80 per barrel.
    "The oil markets have not yet priced in a weaker economic and oil
demand growth environment," The Economic Times quoted the note as saying.
    The bank expects oil prices to begin dropping within the next 30 to 45
days as the temporary factors that support the bullish crude oil prices,
such as supply disruptions in Nigeria and the U.K. and the peak Atlantic
hurricane season, are likely to subside, the newspaper said.
    "As these bullish factors fade, a bearish driver will begin to emerge,
because the new Libyan government is targeting a modest resumption of
crude production by end-September," the note added.
    Monday, September 12, Brent traded at $ 112.25 and the WTI, at $ 88.19
per barrel for delivery dates in October.
    "In line with weaker economic growth, the bank lowered forecasts for
global oil demand growth to 1.0 million barrels per day in both 2011 and
2012," The Economic Times said.