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Oil hovers near three-year high despite rising US output - Reuters
Reuters | Oil hovers near three-year high despite rising US output Reuters Bank of America Merrill Lynch on Monday raised its 2018 Brent price forecast to $64 a barrel from $56, forecasting a deficit of 430,000 barrels per day (bpd) in oil production compared to demand this year. “OPEC and non-OPEC producers remain committed ... Banks Increasingly Think OPEC Will End Supply Cuts as Oil Hits $70 Oil trades near 3-year high as OPEC affirms cuts Worries about US shale output as oil hits three-year high |
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