In addition to the fact that the confrontation between the OPEC and the shale oil sector in the United States is the major issue in 2018, it can keep oil prices in a narrow gap of $ 60-75/bbl.
Report informs, the Oxford Institute for Energy Studies said in latest report.
“These dynamics-prices and frequent changes in mood can still last for a long time. If prices are approaching the top of the corridor, shale oil production in the US will increase. Increase in supply will lower prices.
But we do not think that prices will drop below $ 60/barrel. Thus, OPEC has set restrictions on access to the oil market. Also, an increase in oil demand hinders decline of oil prices too low”, the report says.