Executive Summary Oil market outlook
June 2018
Oil prices are expected to remain volatile in H2 2018. Venezuela’s sharply falling oil output and the potential impact of the reimposition of United States sanctions against Iran will fuel bullish sentiment in the market. However, rising oil production in the US, the growing likelihood for a gradual exit from the OPEC-led output cut agreement and worsening US-China trade relations will be bearish factors for oil prices.
The June OPEC meeting in Vienna could see cracks appearing in the united front the cartel has presented over...