Oil climb continues, inspires upgraded forecast from investment banks

Oil bulls pushed prices higher again on Tuesday, finding encouragement in signs of tightening supplies and fading worries over global economic growth.

The optimism has spread through investment banks, with many bumping up their price predictions for 2019, according to a Wall Street Journal poll.

Futures prices have climbed this year on signs of reduced global supplies after efforts by major oil producers to curb production. Members of OPEC and other major oil producers, including Russia, have pledged to curb crude production by around 1.2 million barrels a day from October levels for the first half of this year to prop up prices.
more detail at source: https://www.marketwatch.com/story/oil-climb-continues-inspires-upgraded-forecast-from-investment-banks-2019-04-02

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