Executive Summary Oil market outlook

December 2017
    • Oil prices have been buoyed by repairs being carried out on the Forties oil pipeline system in the UK and strike action by one of Nigeria’s key unions. Nevertheless, in the longer term markets will focus on the continuing rise in oil production in the United States and when the output cut agreement between OPEC and some non-OPEC countries will end.
US oil production profile and prices.
    • Disruptions to supplies via the Forties pipeline system in December propelled the Brent crude front-month futures...

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