DNB forecasts rising oil prices in 2019

Oil analyst at DNB Markets forecasts oil prices of approximately USD 70 in a 2019 where declining production will drag up prices.

Photo: /ritzaui/AP/Hasan Jamal

The oil price took a significant dive at the end of the year while October's peak price on a barrel of Brent oil was reduced by approximately one third by Christmas, going for USD 50 per barrel.

Since then, the oil price has risen again and costs USD 62 at the time of writing. Now, oil analyst from DNB Markets, Helge André Martinsen, predicts that the market will tighten further and result in even higher prices in 2019.

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