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US Short Term Forecast Predicts $53 Per-Barrel Oil Price in 2017

© SputnikAccording to the economist, the trade-off between the two key oil producers would allow Saudi Arabia to dominate the energy market, while the United States would use lower oil prices to promote its political agenda.
According to the economist, the trade-off between the two key oil producers would allow Saudi Arabia to dominate the energy market, while the United States would use lower oil prices to promote its political agenda. - Sputnik International
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A buildup of global oil inventories is expected to mitigate the OPEC deal’s impact, leaving prices close to present levels, according to report of the US Energy Information Administration.

A man rides a camel through the desert oil field and winter camping area of Sakhir, Bahrain, Sunday, Dec. 20, 2015 - Sputnik International
OPEC Oil Output Freeze Compliance May Be Checked Via Shipping Logs
WASHINGTON (Sputnik) — The price of benchmark North Sea Brent oil is expected to average $53 a barrel this year, close to the $56 level during the final three months of 2016, according to a report by the US Energy Information Administration on Thursday.

"Strong demand and the recent agreement among members of the Organization of the Petroleum Exporting Countries (OPEC) — along with some key non-OPEC oil producers — are putting upward pressure on crude oil prices," the report stated.

However, a buildup of global oil inventories is expected to mitigate the OPEC deal’s impact, leaving prices close to present levels, the report explained.

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