• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 14 mins Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 1 hour California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 31 mins "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 15 hours U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 19 hours Nord Stream - US/German consultations
  • 3 days An Indian Opinion on What is Going on in China
  • 3 days Can Technology Keep Coal Plants Alive and Well?
  • 4 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 3 hours Forecasts for Natural Gas
  • 12 hours Australia sues Neoen for lack of power from its Tesla battery
  • 3 days Storage of gas cylinders
  • 4 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Analysts See WTI Averaging $56 In 2018

Expectations of robust oil demand growth and high OPEC and allies’ commitment to the production cuts have prompted analysts to raise again their forecast for oil prices in 2018, and they now see WTI averaging $55.78 per barrel next year.

According to a Reuters poll of 32 analysts and economists on Thursday, WTI is expected to trade at an average $55.78 a barrel in 2018, compared to the previous forecast of $54.78 a barrel in the survey carried out right after OPEC and the non-OPEC producers part of deal extended their agreement through the end of 2018. Back then, analysts cited the extension as a sign that the oil market rebalancing could speed up.

In today’s poll, the experts surveyed by Reuters also raised their average forecast for Brent to $59.88 per barrel next year, up from the previous projection of $58.84 a barrel.

At 07:16 am CST on Thursday, WTI Crude was up 0.05 percent at $59.67 and Brent Crude was down 0.08 percent at $65.94.

Analysts see solid global economic growth supporting high oil demand in 2018, while expectations of strong OPEC and friends’ commitment to the cuts are forecast to support oil prices next year as supply will be relatively tight.

Increased supply from U.S. shale, however, will cap significant oil price gains next year, but concerns over an abrupt supply glut have somewhat abated.

“We see U.S. supply continuing to grow next year but are less concerned about a sudden supply glut re-emerging as rising D&C [drilling and completion] costs will likely slow production growth,” Ashley Petersen at Stratas Advisors told Reuters.

Also on the supply side, outages in Libya and Nigeria, as well as potential new sanctions on Iran, could also tighten the market and lend support to oil prices in 2018, the analysts polled by Reuters say.

Earlier this week, an explosion at a crude oil pipeline feeding Libya’s biggest oil export terminal sent WTI briefly breaking above $60 per barrel on concerns over yet another sudden supply disruption, just as the operator of the Forties Pipeline in the North Sea, Ineos, said on Thursday that it expected to bring the pipeline progressively back to normal rates around new year.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • John McManus on December 31 2017 said:
    Just a comment on the forecast of the 32 expert analysts and economists who gave a forecast of $55.78 p/b for 2018 WTI and $59.88 p/b for Brent. They really put themselves out on a limb with such an aggressive forecast, HA HA. WTI futures in the real market are trading between $60.10 p/b in February 2018 to December at $57.86 for WTI . Brent is at $66.16 p/b for February and $63.25 p/b for December.

    If these 32 experts had just used the current futures market for their forecast they would be a lot closer to what actual oil prices will be in 2018. I hope you follow up with actual results versus their forecast periodically during 2018 so we can all see how the "expert 32" did for 2018.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News