The Boring Truth About Oil Prices

The outlook for 2018 oil prices is dull. A majority of pundits have now corralled their one-year forecasts into a narrow, “lower-for-longer” price band, with little disagreement. A humdrum, fifty-dollar-a-barrel price outlook for next year is part of a recipe to stifle investment, mute production growth and burn off inventories. On a positive note, that’s what’s ultimately needed to cook up higher oil prices. The Yawn Consensus A few keystrokes on a Bloomberg terminal will get you a list of 24 recent oil price forecasts…

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