Related Articles
Outlook 2017
Forward article link
Share PDF with colleagues

Known unknowns

Opec's efforts to cut supply will be the main theme of 2017 and prices will rise. But the outlook is still fraught with risk and uncertainty

Oil prices will rise in 2017. But, failing a supply-side shock or deeper-than-expected cuts from Opec, $60 a barrel will be the upper limit. Before that level is reached, bears still pose a threat too. And that price will be the rough ceiling, not a basecamp for bigger climbs. The tone for the year will be set before it begins - on 30 November, when Opec's ministers gather around the horseshoe table at the group's headquarters on Vienna's Helferstorferstrasse. Any cuts they agree will only be felt in physical markets from January. The end-November meeting is probably too soon for Opec to thrash out a meaningful deal. The one on the table, established in Algiers at the end of September, wou

Also in this section
Energy demand stayed low in 2016, as the fuel mix shifted towards cleaner energy sources
20 June 2017
China and India accounted for almost all the growth, says BP, and global emissions were flat for the second year in a row
The global oil-demand growth forecast for 2017 depends on a bumper Q4
15 June 2017
Either Q1-Q4 crude consumption will rise at its fastest pace since 2010, or the data are very wrong
The blockchain technology challenging the energy world
8 June 2017
As companies queue up to lend their financial support, the rise of this new innovation is unstoppable