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HSBC cut its short-term forecasts for the price of oil even as it cautioned that it still expected to see a "significant" tightening in the market and higher prices over the medium-term.
Crude-oil futures are slip-sliding lower this balmy Friday afternoon in London as markets speculate that the US' quitting the 2015 Paris climate agreement might spark a ramp-up in shale drilling.
A possible new trend of oil being supplied to Asia from the US, Brazil and the North Sea has been identified, as the Opec production cuts alters global oil flows.
