• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 58 mins Iran Is Winning Big In The Middle East
  • 6 hours Trump cancels Denmark visit amid spat over sale of Greenland
  • 7 hours Strong, the Strongest: Audi To Join Mercedes, BMW Development Alliance
  • 9 hours Nor Chicago, nor Detroit: Killings By Police Divide Rio De Janeiro Weary Of Crime
  • 12 mins Not The Onion: Vivienne Westwood Says Greta Thunberg Should Run the World
  • 5 hours US to Drown the World in Oil
  • 1 day Danish Royal Palace ‘Surprised’ By Trump Canceling Trip
  • 10 hours With Global Warming Greenland is Prime Real Estate
  • 1 hour OPEC will consider all options. What options do they have ?
  • 8 hours Gretta Thunbergs zero carbon voyage carbon foot print of carbon fibre manufacture
  • 1 day A legitimate Request: France Wants Progress In Ukraine Before Russia Returns To G7
  • 1 day What to tell my students
  • 4 hours Long Range Attack On Saudi Oil Field Ends War On Yemen
Alt Text

The Downside Risk For Oil Prices Is Undeniable

From trade wars, to slowing…

Alt Text

Texas Crude Is Fetching Better Prices

New midstream capacity allows more…

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 Oil Price Averaging $67 This Year

WTI Crude prices are expected to average $67.32 per barrel this year, and hold steady and range-bound for the rest of 2018 and 2019, as increased supply from OPEC and the United States is expected to meet rising Asian demand and offset supply disruptions from Iran and elsewhere around the world, a monthly Reuters poll of 44 analysts and economists showed on Tuesday.

In the Reuters survey at the end of last month, analysts had expected WTI to average $66.79 per barrel this year, up from the $66.47 forecast in May, as they expected supply deficits from Venezuela and Iran to outweigh OPEC’s production boost.

So far this year, WTI Crude prices have averaged $66.16 per barrel, and were down 0.47 percent at $69.80 at 07:58 a.m. EDT on Tuesday.

In today’s poll, the experts also lifted their forecasts for Brent Crude to average $72.87 per barrel in 2018, up from the $72.58 expected in the June survey and above the $71.68 average so far in 2018. At 07:58 a.m. EDT on Tuesday, Brent Crude was down 0.07 percent at $75.50.

The July survey marked the 10 month in a row in which analysts polled by Reuters have revised up their forecasts for average Brent and WTI prices this year. Related: $40 Billion LNG Project Finally Starts Up

The analysts expect oil prices to remain range-bound throughout 2018 and in 2019, as lower Iranian supply and lower stocks will continue to be bullish factors, while trade tensions that could hurt oil demand and market sentiment, coupled with rising U.S. oil production would keep a lid on prices.

The experts see the U.S. sanctions taking between 500,000 bpd and 1 million bpd of Iranian crude oil off the market.

“The disruption to Iranian barrels will weigh on oil markets in the second half of 2018 and H1 2019 as there are few spare barrels in the market that can offset a big disruption to Iranian supplies,” Emirates NBD commodities analyst Edward Bell told Reuters.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play