Waning OPEC Compliance Threatens Oil Price Rally

Analysts cut yet again—for a sixth consecutive month—their oil
price forecasts for 2017 and 2018, as the slower-than-expected rate
of oil market rebalancing puts an increasing amount of pressure on
OPEC’s resolve to stick with the cuts, according to 33 economists
and analysts surveyed in the July Reuters poll. According to the
survey, Brent crude prices are seen averaging US$52.45 per barrel
this year, lower than the US$53.96 forecast in the June poll. For
WTI, the experts now expect the price to average US$50.08 in 2017,
compared…

Analysts cut yet again—for a sixth consecutive month—their oil
price forecasts for 2017 and 2018, as the slower-than-expected rate
of oil market rebalancing puts an increasing amount of pressure on
OPEC’s resolve to stick with the cuts, according to 33 economists
and analysts surveyed in the July Reuters poll. According to the
survey, Brent crude prices are seen averaging US$52.45 per barrel
this year, lower than the US$53.96 forecast in the June poll. For
WTI, the experts now expect the price to average US$50.08 in 2017,
compared…