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Compelling case for crude price at $ 100 in 2018
Apr 17: With global oil demand roaring ahead and the surprising success of the OPEC's supply cut agreement are making a compelling case for revising likely crude oil prices in 2017-18
8Clearly, improving macroeconomic activity is supporting industrial demand
8Pivot to fiscal policy and China’s expansionary policy to support growth in demand
8Then again, refinery start-ups will support demand even though margins will weaken
8The other conclusion is that the increase in shale gas output cannot offset massive Capex cuts elsewhere
8The rest of the 2017 forecast is now above $60 per barrel
8The 2018 and 2019 forecast is nearer to $ 100/bbl
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