The Organisation of the Petroleum Exporting Countries (Opec) and Russia’s efforts to curb oil output, combined with forecasts for strong global demand growth, are expected to keep crude prices close to $60/bl in 2018, a Reuters poll of analysts showed on Thursday.
The survey of 32 economists and analysts forecast Brent crude would average $59.88/bl in 2018, up from the $58.84 forecast in the previous monthly poll.
Source: www.engineeringnews.co.za
Supply discipline and demand to prop up oil prices in 2018