Authored by Tsvetana Paraskova via OilPrice.com,
As we roll into 2018, analysts and investors are more optimistic that the oil market will further tighten next year and support higher oil prices, but rising U. S. shale production will likely cap any significant price gains.
On the demand side, expectations are that global economic growth will support solid oil demand growth.
On the supply side, Venezuela’s dire situation, possible new sanctions on Iran, and increased tension in the Middle East mostly with the Saudi-Iran issues and the Iraq-Kurdistan standoff may take more barrels off the market than OPEC and friends plan, and send geopolitical jitters through the oil market.
This post was published at Zero Hedge on Dec 22, 2017.