Some comments by Moody's via Reuters

  • Prices to remain between the $40 - $60 range despite extension of OPEC-led production cuts
  • Political unrest in Middle East and assumptions of OPEC extending production cuts helped to bolster prices in late 2017
  • Global demand for oil will continue to grow through 2040, with light vehicle oil demand growth peaking by 2030
  • Global oil industry to focus on disciplined investment, M&A for growth in 2018

Well, current prices are already exceeding their so called $40 - $60 range, hmm. Some interesting forecasts there. Anyway, just some general comments by Moody's on the oil outlook.

Brent oil is currently at $66.94, up 0.10% on the day. WTI crude is at $60.44, up by 0.02%.