Iran sanctions seen keeping oil above $75, but 2019 demand outlook darkens | Reuters:
Oil is likely to stay above $75 a barrel, fueled by supply disruptions exacerbated by U.S. sanctions on Iran, but further gains could be limited as economists and analysts see demand growth slowing next year due to trade wars and economic weakness.
A survey of 46 economists and analysts forecast Brent crude LCOc1 to average $76.88 a barrel in 2019, up from the $73.75 forecast in September. The price is expected to average $74.48 in 2018, versus the $73.57 average so far this year.
Analysts who spoke to Reuters said demand is expected to decelerate in 2019, if concern over a widespread economic slowdown proves to be justified.
No comments:
Post a Comment