Executive Summary Oil market outlook
February 2018
Rising oil production in the United States and reduced supply disruptions will remain the predominant bearish factors affecting oil prices. However, the gradual rebalancing of the oil market and continued weakness in the US dollar index are expected to provide a floor to the prices.
The front-month futures price for Brent crude has averaged $65.5 per barrel so far in February, marking a decline of $3.6/bbl from January. Meanwhile, the WTI crude front-month futures price has fallen by $1.8/bbl, to average around $62/bbl. GGA forecasts the...