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Danske Bank: OPEC deal will likely be extended to 2018

The OPEC deal to keep output low will likely be extended, projects Danske Bank ahead of the oil exporters' meeting next week. But there are signs of increasing skepticism toward the organization's initiative, reports Wall Street Journal.

Photo: Nabil al-Jurani/AP/Polfoto/Arkiv

The current deal to keep the oil production low will likely be extended when the organization of petroleum exporting countries gather next week, projects Danske Bank according to media EconoTimes, which cites an analysis from the bank that takes particular note of the latest comments from some of the biggest countries in the agreement.

Brent oil should be expected to trade at close to current levels, around USD 50 to 54 per barrel"

Danske Bank on prospects of extended OPEC deal

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