Analysts See Oil Prices “Lower For Longer”

The oil industry had hoped this would be the year the prices finally start to firm up. But the industry is having to once again get used to the idea of “lower for longer.” For the second month in a row, major investment banks are lowering their price forecasts. A Wall Street Journal survey of 14 investment banks finds an averaged predicted price for WTI at $52 per barrel for 2017, a decline of $2 from the same survey in May. The banks also now see WTI averaging $55 per barrel in 2018, again, down $2 from the May results. “Disappointment…

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