Brent oil 2018 forecast raised higher to $66/ barrel - SG

Dhwani Mehta FXStreet

In the latest research note published today, analysts at Societe Generale (SG) made an upward revision to their forecasts on Brent oil.

Key Highlights:

Brent price revised up by $4 to $66 per barrel.

Supported by strong macroeconomic and product demand growth.

Continued OPEC output cuts expected for this year also validates forecast.

The production cuts will offset very strong non-OPEC growth, which is led by the US and that "the result will be a broadly balanced global market, with moderate OECD stockdraws and moderate non-OECD stockbuilds".

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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