Although analysts expect that OPEC will opt for a reduction in production, they forecast an average WTI price of $ 67.45 in 2019, as bold supply and vague demand forecasts are expected to curb oil price increases, according to a Reuters survey of 38 analysts and economists showed on Friday.
Experts now expect WTI Crude prices to reach an average of $ 67.45 a year, compared with 70.15 euros in a previous poll at the end of October, when analysts expected Iran's sanctions on Iranian oil to support prices in the following year.
Crude oil prices averaged USD 66.40 in 2018.
In this month it was found that analysts and economists also see a lower average price for Brent Crude next year, $ 74.50 a barrel, compared with a 76.88 percent projection in October. This year, experts estimate that Brent prices on average amounted to $ 73.20, which is in line with the average price of US $ 73, which was so far achieved in 2018.
Half of the analysts and experts who participated in both Reuters research this month and the last 16 of 32 audited their average price estimate for next year Brent Crude.
Brent's lowest projection for 2019 came from Citi, at $ 57, while Raymond James and ABN Amro had the highest score of $ 90.
Brent Crude is expected to reach an average of $ 75.50 a barrel in 2019, according to a survey by S & P Global Platts, which last week had 11 best banks and oil brokers cutting down at least a million bpd in the production of cut oil OPEC, But the growth of oil demand is despite weaknesses.
In a Reuters survey on Friday, experts in lowered growth frames of demand growth for 2019 in their oil price forecasts, along with increased supply from the US and processing production in Libya and Nigeria. Respondents expect that demand for oil will increase by 900,000 bpd and 1.5 million bpd in the next year, compared with a growth of 1.1 million bpd to 1.5 million bpd expected in the October poll.
Author: Tsvetana Paraskova for Oilprice.com
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