OPEC and Russia’s efforts to curb oil output, combined with forecasts for strong global demand growth, are expected to keep crude prices close to $60 a barrel in 2018, a Reuters poll of analysts showed on Thursday. The survey of 32 economists and analysts forecast Brent crude LCOc1 would average $59.88 a barrel in 2018, up from the $58.84 forecast in the previous monthly poll. Oil prices, which hit 2-1/2 year highs this week, have rallied by more than 30 percent since the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers agreed to limit production from January 2017. The producers last month extended the deal to curb output throughout 2018. (Full Story) “Oil demand will be high in 2018, with solid economic growth worldwide … Supply will be relatively tight because of high OPEC commitment,” said Frank Schallenberger, head of commodity research at […]