OPIS 2018 OUTLOOK FORECASTViews : 1094
OPIS -- The numbers that are witnessed for benchmark crude oil blends in the first few weeks of 2018 could quite possibly be the highs for this year, and perhaps even for 2019.
An epiphany looms after the initial rush of new money conspires to underpin high numbers reached in the last days of 2018.
When the dust settles, we suspect that Brent will ultimately slip below $60/bbl by the end of the first quarter, average a little bit more than $55/ bbl in the second quarter and move through the second half of 2018 without straying too far from this $55/bbl number.
An average price on either side of $57/bbl is reasonable when the year concludes.