Australian Energy Quarterly commodity mark-to-market Asia Pacific Equity Research 15 January 2020 This report details our quarterly mark-to-market of commodity prices and an update of our forecasts using the forward curve. The key highlights are: 1) while Brent curve remains in backwardation, our Global Team remain positive on the outlook; 2) we have made some upward revisions to our CY2020 forecasts (based on higher Brent prices) but remain at the bottom end of consensus; and 3) we still see g
