The projected price of Brent Crude oil has now jumped from $57 per barrel to $63 per barrel for 2018, and WTI has increased from $54 per barrel to $59 per barrel.
Analysts at Jefferies said they were ‘increasingly confident’ that the oil market would remain undersupplied throughout 2018 and that inventories would fall to 5-year average levels in the third quarter of next year.
Accelerating Chinese demand growth and OPEC’s extension of its production cuts to the end of 2018 were touted as key drivers for the undersupply.
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Wood Mackenzie expects the OPEC and NOPEC agreement to keep current production restraints in place through 2018 to contribute to an oil price increase in the second half of next year.
Fossile energikilder (kull, olje og gass) utgjør idag nær 77 prosent av verdens energiforbruk, mens sol- og vindkraft ikke står for stort mer enn 2 prosent.
Foto: Halfdan Carstens
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