JP Morgan raises 2020 oil price view on OPEC+ cuts, improved economic outlook

(Reuters) - JP Morgan on Tuesday raised its oil price outlook and forecast supply-demand balance to tighten next year against the backdrop of the OPEC and its allies increasing output cuts and stronger economic growth in emerging markets.The investment bank revised its Brent price forecast to $64.5 per barrel in 2020 from $59 earlier, although it expects prices to slip to $61.50 in 2021. West Texas Intermediate prices are seen following a similar trajectory with prices averaging $60 per barrel..