2018 was less bullish, pegging the real price of a barrel of Brent oil.e. This reflects an upward revision.5/barrel to the EIA forecast for 2018 compared to last month's. The Saudis and Russia are wary of prices rising high enough to dent demand as Venezuela's output continues to decline amid an economic crisis and.S. It would also tip the finely balanced oil market towards oversupply starting in the fourth quarter, when the restored barrels are likely to start arriving at import terminals. Oil price forecasts depend on the interaction between supply and demand for oil on international markets. Show chapters, an opec meeting in two weeks will determine the short-term price movement, the bank says. Last month, it expected.14 million bbl/d year-over-year increase.86 million bbl/d. Despite oil prices recently rising to 3-year highs, the investment bank left its forecast for international benchmark, brent crude unchanged.30 a barrel. Short-Term Energy Outlook (EIA). Morgan's downward revisions to economic growth in Europe, Latin America and the Middle East. Price adjusted for inflationat.4/barrel in 2018.
In May, opec announced that oil production cuts would be extended until March 2018. On Friday, Brent was trading at just under 77 a barrel, off its recent high.50. Morgan analyst Abhishek Deshpande wrote in the note. On the supply side, global output is poised to rise by 2 million barrels a day in 2018, 200,000 barrels a day higher than.P. Essam Al-Sudani Reuters, people work at the Halfaya oilfield in Amara, southeast of Baghdad, Iraq. WTI was trading at nearly 66 a barrel Friday, after nearly touching 73 a barrel two weeks ago.
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