Analysts See Oil Prices Rising as OPEC Production Cut Bears Fruit

Drill Tower At Sunrise. Oil Rig Industry Drilling Derrick

While analysts say that the production cuts will help the market rebalance, a number of wild cards remain

Crude Oil: $52.81 per barrel, Natural gas: $3.117/MMBtu, Gold:$ 1208.60 per troy oz.


Analysts are raising their oil-price forecasts for the first time in five months, even as they continue to see a plethora of risks for this market.

Members of the Organization of the Petroleum Exporting Countries and other big producers said this month that they are abiding by their historic agreement last year to cut production. Oil prices have risen by about a fifth since that deal was struck.Read more.

Resource: WSJ

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