While core view remains that Brent crude prices will rebound:
- Oil prices have fallen in the past month, however a slowdown in global supply growth will see Brent crude begin to regain traction in the months ahead.
- Increasing crude production in North America, West Africa, Brazil and the UK will keep price growth flat in 2018, as the market falls back into a tentative surplus.
Forecast: Brent crude to average USD54.0/bbl in 2017 and USD55.0/bbl in 2018
