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Trading news
31 Jan 2017
Analysts weigh OPEC price boost against hit from US shale: Reuters Poll
According to the latest Reuters poll, analysts have raised their forecasts for both Brent and WTI crude average prices for 2017, albeit raised concerns that rising US production could offset any major price gains from OPEC'S output deal.
The poll forecast WTI crude oil will average $56.08 a barrel in 2017 and $60.61 in 2018. WTI has averaged about $52.63 so far in 2017.
Meanwhile, Brent crude will average $58.01 a barrel in 2017, slightly higher than the $57.43 forecast in the previous survey.
Additional details:
• Oil markets are starting to tighten
• Trump's policies may bring a sharper rise in US output