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
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
