Brent likely to average $70 next year, says American bank

Brent likely to average $70 next year, says American bank:

Brent crude is expected to average $70 per barrel in 2019 according to an energy sector outlook from Bank of America Merrill Lynch (BAML).

It expects the WTI grade to average around $59, helped both by demand growth and a production cut from OPEC and some of its allies.

OPEC is due to meet today in Vienna, followed by talks with allies such as Russia on Friday.