Oil Prices in 2018: Once Again It’s All About U.S. Shale Output
- Brent to average $60, WTI seen at about $55 in 2018: survey
- Shale growth seen as wild card where analysts’ outlooks differ
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The direction of oil prices in 2018 will be decided in Texas.
Crude oil production out of the U.S. is expected to hit record levels next year, buoyed in part by OPEC supply curbs that have put a floor under prices. For analysts forecasting prices next year, there are two key questions: exactly how far American production grows and whether the global economy is strong enough to swallow those extra barrels?