Oil and gas analysts at investment banking firm Jefferies raise their 2018 Brent Crude and WTI oil price forecasts. Oil and gas analysts at investment banking firm Jefferies have raised their 2018 Brent Crude and WTI oil price forecasts. The projected price of Brent Crude oil has now jumped from $57 per barrel to $63 per barrel for 2018, and WTI has increased from $54 per barrel to $59 per barrel. Analysts at Jefferies said they were ‘increasingly confident’ that the oil market would remain undersupplied throughout 2018 and that inventories would fall to 5-year average levels in the third quarter of next year. Accelerating Chinese demand growth and OPEC’s extension of its production cuts to the end of 2018 were touted as key drivers for the undersupply. On November 30, OPEC and participating NOPEC countries agreed to extend production cuts to December 2018. A further meeting to evaluate […]