Darkening economic outlook threatens to cap oil price in 2019: Reuters poll | Reuters:
Oil analysts have grown more pessimistic over the prospects for a significant price rally this year, as booming U.S. shale output and a deteriorating global economic backdrop threaten to offset the boost from OPEC’s crude supply cuts.
A Reuters survey of 36 economists and analysts on Thursday forecast Brent crude oil futures to average $66.44 a barrel in 2019, slightly below the $67.32 projected in January’s poll. That also compares with the $62 average for the global benchmark this year.
This is the fourth straight month in which analysts have cut their oil price forecasts.
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