• Global Gas Analytics
  • Analysis & Forecasts

Executive Summary Oil market outlook

November 2018

Oil prices have come under intense pressure because of rising supplies from the United States and Russia, combined with demand-side concerns surrounding the weakening global economy. Nevertheless, prices could rebound sharply if OPEC decides to deepen its production cuts at its meeting on 6 December and once waivers from US sanctions for some buyers of Iranian oil lapse.

The Brent crude front-month futures price has averaged around $69 per barrel so far in November, $11.3/bbl less than the October average. GGA forecasts it will average around...