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
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