Moody's Investors Service predicted that oil prices will range between $40 and $60 per barrel in 2018 despite growing demand. "[P]rices will likely remain range-bound, and possibly volatile, on a combination of increasing US shale production, reduced but still significant global supplies, and potential non-compliance with agreed production cuts -- especially if demand growth is more tepid," Moody's said.
Oil prices to remain stuck between $40 and $60, Moody's says
Sign up for AIChE SmartBrief
News for chemical engineers
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.