# 2020 commodities preview | articles | ING THINK

> ING expects the oil market to return to surplus in the first half of 2020, with Brent averaging US$59/bbl in that period and US$62/bbl for the year. That forecast assumes OPEC+ extends its cuts beyond March 2020 and deepens them in early 2020. ING also cites weaker 2019 oil demand growth linked to the US-China trade war.

- Date: 2019-11-28 · published 2019-11-28T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/55954-2020-commodities-preview-articles-ing-think
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A forecast surplus implies weaker crude prices in 2020 unless OPEC+ acts, which lowers energy-linked costs for feed and biofuel. The outlook is a forecast rather than a new event.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- think.ing.com: https://think.ing.com/articles/2020-commodities-outlook/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.