Crude oil prices look likely to trade below $70 per barrel in 2019 as surplus production, much of it from the United States, and slowing economic growth undermine OPEC-led efforts to shore up the market, a Reuters poll showed on Monday. A survey of 32 economists and analysts forecasts the North Sea Brent crude oil benchmark LCOc1 will average $69.13 per barrel in 2019, more than $5 lower than last month’s projection. Brent has averaged $71.76 in 2018. “The first half of 2019 will be dominated by concerns about oversupply,” said Ashley Petersen of Stratas Advisors. The Organization of the Petroleum Exporting Countries and other producers including Russia, known collectively as OPEC+, agreed earlier this month to cut production by 1.2 […]