International oil prices will average $75 a barrel in 2019, and consumers may find themselves contending with bouts of $80 crude this summer, RBC Capital Markets said.
The global investment bank revised its oil price forecast higher Thursday, pointing to a cocktail of market conditions. Those include steep OPEC supply cuts, robust demand, geopolitical risk and investor positioning that leaves crude futures with plenty of room to run.
RBC’s $75 call for international Brent crude is up from a previous 2019 forecast of $69.50 per barrel. The bank also boosted its outlook for U.S. West Texas Intermediate crude from $61.30 per barrel to $67 for 2019.
Union Jack Oil (LON:UJO), The directors believe that significant opportunities exist to invest in, or acquire, a company or companies or businesses or assets in the hydrocarbon sector.