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 Expert forecasts agree on slight rise in global oil prices for year ahead

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PostSubject: Expert forecasts agree on slight rise in global oil prices for year ahead   Mon Oct 01, 2018 6:55 pm

Expert forecasts agree on slight rise in global oil prices for year ahead
10 April 2018 Authored by Consultancy-me.com
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Global oil prices are predicted to rise moderately in 2018 according to a cross-section of industry CEOs, country projections, and institutional market forecasts compiled by global consulting firm Roland Berger, with most sources appearing to be in relative agreement.

The global oil price has seen ups and downs in the past decade, falling from a peak in 2008 of almost $140 a barrel to a little over $30 a barrel in 2016. The ups and downs have created a rollercoaster ride for producers, with various countries, many dependent on oil exports, being hit hard by the lower oil prices that have reigned since 2015.

For 2018, the market should see a minor improvement according to oil industry bodies and the historically most-accurate country forecasts, with the 2017 average barrel price of $51 ticking up to $54. While expectations fell a fraction short in 2017, the forecasts were marked by considerable divergence and the average distorted by an overly-bullish projection from Saudi Arabia – historically one of the most accurate country forecasters.
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