Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Economic forecast for oil prices to rise between 54 - 62 dollars in 2018

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 268431
    Join date : 2012-12-22
    • Post n°1

    Economic forecast for oil prices to rise between 54 - 62 dollars in 2018 Empty Economic forecast for oil prices to rise between 54 - 62 dollars in 2018

    Post by Rocky Thu Dec 21, 2017 7:47 pm

    [size=30]Economic forecast for oil prices to rise between 54 - 62 dollars in 2018[/size]
    21/12/2017 11:31 | Number of readings: 1
    font size:  Economic forecast for oil prices to rise between 54 - 62 dollars in 2018 Font_decrease  Economic forecast for oil prices to rise between 54 - 62 dollars in 2018 Font_enlarge
    Economic forecast for oil prices to rise between 54 - 62 dollars in 2018 Thumbnail.php?file=thumbs_b_c_3bc9ab2a7ba757f6263a1498cab9ea85_519709081
    Trend Press / Agencies
     
     
    The world's largest banks expected that the price of crude oil between the levels of 54 to 62 dollars per barrel next year 2018.
     
    The outlook was based on crude subsidies from the Organization of the Petroleum Exporting Countries (OPEC), especially after its recent decision to cut output to rebalance the market, which has been suffering for more than three years.
     
    Members of OPEC and independent producers led by Russia began in early 2017 to cut production by 1.8 million barrels per day (bpd) for six months and then extended until the end of 2018.
     
    The Organization of the Petroleum Exporting Countries (OPEC) agreed on November 30 to extend oil production cuts by an additional 9 months ending in December 2018, amid moves by OPEC and independent producers to cut oil stocks.
     
    Goldman Sachs
     
    Goldman Sachs raised its forecast for the benchmark Brent crude to $ 62 a barrel in 2018, from about $ 58 in its previous forecast.
    He attributed these expectations to the strong commitment expected from Saudi Arabia and Russia to extend the supply cuts until the end of next year.
     
    UBS
     
    UBS increased its outlook for Berne next year to $ 60 a barrel from $ 55, adding that stocks of OECD member states could fall to their lowest level in five years in the third quarter of 2018.
     
    Credit Suisse
     
    Credit Suisse expects the price of Brent crude to reach $ 60 a barrel in 2018, compared to $ 53 in its previous forecast, a reference to the recent OPEC decisions.
    The bank believes that OPEC's commitment to cuts will lead to the return of stock levels in the OECD countries to normal by the third quarter of next year.
     
    JP Morgan
     
    JPMorgan expects Brent crude to average $ 60 per barrel in 2018, compared to its previous forecast of $ 58 a barrel.
    The bank said oil prices remained broadly stable, supported by OPEC's bid to balance markets by subsidizing prices.
     
    Barclays
     
    Barclays has kept its forecast for Brent crude at $ 55 a barrel, adding that current optimism about prices will lead to supply growth of at least 500,000 bpd from the United States and other OPEC producers annually in 2018 and 2019.
     
    Citigroup
     
    Citigroup expects Brent crude to hit $ 54 a barrel next year, keeping its previous forecast unchanged from a low of $ 60 in July.
    The bank said it expected current OPEC-led production constraints to continue until mid-2018 or the end of the third quarter, but not until the end of the year.
     

    • Back to top
      Current date/time is Fri Apr 19, 2024 9:35 pm