Analysts Raise Oil Price Forecasts

Just a few of months ago, analysts and investment banks
slashed their oil price forecasts as OPEC’s production cuts drew
down the global oil oversupply slower than initially expected, and
rising U.S. shale production capped any short-lived oil price
gains. But at the end of the summer, as OPEC and the International
Energy Agency (IEA) started reporting stronger-than expected global
oil demand growth and an accelerated pace of inventory declines,
the market sentiment began to change. As 2018 and the November 30
OPEC meeting draw nigh, the…

Just a few of months ago, analysts and investment banks
slashed their oil price forecasts as OPEC’s production cuts drew
down the global oil oversupply slower than initially expected, and
rising U.S. shale production capped any short-lived oil price
gains. But at the end of the summer, as OPEC and the International
Energy Agency (IEA) started reporting stronger-than expected global
oil demand growth and an accelerated pace of inventory declines,
the market sentiment began to change. As 2018 and the November 30
OPEC meeting draw nigh, the…