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Brent crude oil price to be at $62-62.50 a barrel in Q1 ... Talking about crude price for longer term, Gupta said: “For Q1, 2020, our initial forecasts were between $62-62.50 per barrel for Brent and now if the prices remain high for few weeks in January and maybe more we could see $3-5 premium to our base forecast.” At 1 pm on Tuesday, Brent crude oil price was at $68.45 per barrel. US oil plunges 6.7%, closes below $27 a barrel