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Oil prices won't go up in the next two years
Dec 15: After the 30 November agreement between the OPEC and Russia to extend oil production cuts until the end of 2018, it is worth looking again at the balance between oil supply and demand.
8The most recent data indicate that without continued OPEC’s willingness to limit supply, the market will be naturally tilted towards oversupply in 2018 and 2019.
8Oil demand is expected to expand at the current pace for some years to come, and there is eventually going to be a limit to US shale output, leaving the mantle in the hands of low cost OPEC producers to fill in the gap
8It is only then will prices go up
8Not in the next two years
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