Moody's comments on oil price forecasts in 2018 were as follows:
- Oil prices are expected to remain in the range of $ 40-60 a barrel in 2018, despite the extension of OPEC's production reduction agreement.
- The political turmoil in the Middle East and OPEC's assumption of an extension of production cuts have boosted oil prices in late 2017.
- Global oil demand is expected to continue until 2040, and demand for light vehicle oil will reach its peak level in 2030.
- The global oil industry will focus on disciplined investment, mergers and acquisitions for growth in 2018.
