Barclays reduced its target price for oil in 2018 by $10

On Friday, analysts at Barclays (LON: BARC) lowered their forecast for the price of Brent crude oil at the end of 2018, but confirmed the trend in the increase of oil prices.
In particular, analysts have lowered the forecast of oil on the London Commodity Exchange to $67 per barrel from the previous value of $77.
The analysts at Barclays explained, that they maintain their forecast that the price increase will be by $10 higher than the current rate futures.
They also left unchanged the forecast for the average price of a barrel of Brent crude oil for 2017 at $57 per barrel, noting that the forecast for the second quarter was $62.
Analysts called the situation "a game of musical chairs", which will end as soon as the US shale oil producers to increase production, or completed action on the production reduction agreement.
According to the analysts, if OPEC agreement is not renewed, it will decline in 2018, oil prices will be more volatile when stockpiling will continue, as OPEC spare capacity.
British bank's forecast for the price of WTI crude oil was $56 per barrel in 2017 and $65 per barrel in 2018.