On the last day of 2018, despite the small recovery of oil prices, benchmarks are set for the first year-to-year decline for 2015. Reuters reports that since the commencement of today's trade, Brent Crude and West Texas Means have earned around 1% each.
It seems too uncertain about petroleum, the prices started in October began with a stronger recovery. That year was earlier than the US $ 80, one of Brent's breasts. The interest in the global economic growth and the upcoming US trade warfare is one of the key factors. The last year of the OPEC has to be taken into account considering the decision to produce the production from January, as the trend of the last months suggests that the market has been cut.
The Lehendakari, Trump, has stated that there will be jobs in China, but uncertainty is likely before the planned negotiation. One of the world's biggest oil producers and one of the largest consumers would be the commercial deal, probably a bullish oil, which would improve the outlook for the global economy, also with the United States and China.
In spite of the general loss of this year, the references of crude oil are analyzed by investment bank analysts. Analysts' Bloombergen surveys suggest that feelings will change in the New Year with Brent Crude in the $ 70 generation.
According to the poll, the oil demand will be strong in 2019, OPEC operations will work to stabilize prices, and Venezuela and Iran's production losses will increase.
"The following year we can also see something similar to V-shaped in two very important conditions," said Barclays. Michael Cohen added a few conditions: "One, Opec's export restrictions allow us to reduce inventories, and two, we do not deteriorate macroeconomic status."
Irina Slav to get to Oilprice.com
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