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According to Dow Jones on May 11, Bank of America Merrill Lynch analysts expect oil prices to rise to $100 per barrel
next year in view of possible oil supply disruptions in Venezuela and Iran, as well as increased global oil consumption.
In addition, efforts by OPEC and Russia to set a floor for oil prices in 2019 will help push oil inventories below the five-year average, making the oil market more tightly supplied
.
The bank expects Brent crude oil prices to rise to $90/b in the second quarter of 2019 and raises its full-year average oil price forecast to $70/b, which is expected to average $75 in 2020
.
According to Dow Jones on May 11, Bank of America Merrill Lynch analysts expect oil prices to rise to $100 per barrel
next year in view of possible oil supply disruptions in Venezuela and Iran, as well as increased global oil consumption.
In addition, efforts by OPEC and Russia to set a floor for oil prices in 2019 will help push oil inventories below the five-year average, making the oil market more tightly supplied
.
The bank expects Brent crude oil prices to rise to $90/b in the second quarter of 2019 and raises its full-year average oil price forecast to $70/b, which is expected to average $75 in 2020
.