Expectations of robust oil demand growth and high OPEC and allies’ commitment to the production cuts have prompted analysts to raise again their forecast for oil prices in 2018, and they now see WTI averaging $55.78 per barrel next year. According to a Reuters poll of 32 analysts and economists on Thursday, WTI is expected to trade at an average $55.78 a barrel in 2018, compared to the previous forecast of $54.78 a barrel in the survey carried out right after OPEC and the non-OPEC producers part of deal extended their agreement through the end of 2018. Back then, analysts cited the extension as a sign that the oil market rebalancing could speed up. In today’s poll, the experts surveyed by Reuters also raised their average forecast for Brent to $59.88 per barrel next year, up from the previous projection of $58.84 a barrel. At 07:16 am CST on […]