Background Image

Not OPEC, China dictates the oil prices

Oil
 

The OPEC deal will lead to an ongoing tightening of the crude oil market, putting a floor beneath crude prices in the $50s per barrel in the second half of 2017, according to Helima Croft of RBC Capital Markets. She said that prices should ultimately "grind higher into the $60s" by the fourth quarter, with an average price for WTI expected at $61. Political and economic pressure surrounding Saudi Aramco's IPO and Russian elections – both of which are slated for 2018 – will ensure that OPEC and non-OPEC does "whatever it takes" to keep oil prices stable and on the rise.

 

Read Article

Further Information

If you require additional information on this article, or you would like to speak with a member of our marketing team, please contact us:


FGE London

+44 (0) 20 7726 9570