New year, new price
Brent futures will rise this year. So will volatility
International oil prices will increase this year after a tumultuous 2016, but the extent and duration of the rally will depend on oil-producing nations upholding their side of the bargain to cut 1.8m barrels a day from global supply. Of the six banks and consultancies surveyed by Petroleum Economist - Energy Aspects, JBC Energy, Barclays, BNP Paribas, ABN Amro and Morgan Stanley - all expect Brent prices to rise in 2017. Energy Aspects is the most bullish, saying the international benchmark will average almost $66 per barrel in 2017. Last year, it averaged $43.55/b. BNP Paribas is the most bearish, forecasting an average of just $50/b across the year. The average 2017 price forecast across t
Also in this section
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
14 January 2026
Leading economies in the region are using oil and gas revenues to fund mineral strategies and power hyperscale computing
14 January 2026
The South American country offers stable, transparent and high-potential opportunities and is now ready for fresh exploration and partnership
13 January 2026
Across Europe, countries have grappled with balancing ambitious energy transition plans with realities about security of supply
