Analysts at Barclays see a possible rise in oil prices after OPEC agreed to cut production by 1.2 million barrels per day compared to October.
"Changing supply expectations are changing the market situation, with 0.5 million barrels being removed from the supply side, with the balance between supply and demand going down to an almost equal level." We expect this to happen in the first half of 2019. " - Barclays mentions in his statement.
Production risk may arise from the US, but according to the bank, they see no increase in this risk.
"Our target for Brent remains $ 72 a barrel next year, believing that prices will rise from their current levels as long as macroeconomic conditions are stable and OPEC member producers comply with their quotas."
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