HSBC Raises Long-Term Brent Price Forecast as Unplanned Output Losses Hit 11.59 Million Barrels a Day

According to Jin10, HSBC raised its long-term Brent crude price forecast, saying the adjustment reflects that disruptions in the Strait of Hormuz have become the new normal; global unplanned production outages have quickly risen to 11.59 million barrels a day, far beyond routine maintenance or short-term disruptions.