Oil - where in 2018?

Brent's price is expected to be at an average of $60 a barrel next year and US crude oil at $55 a barrel. At least according to the analysts' average expectations.
Experts predict a drop in oil prices. By comparison, the Brent is currently traded at about $64 a barrel, and US crude oil is close to $58 a barrel.
A major engine in the price of oil in the coming year is expected to continue to be the US industry and more specifically the direction of the key manufacturers.
The production constraints, which came in the direction of OPEC and Russia, largely predetermined the appreciation of oil on international commodity markets. However, it is quite possible to change the following year.
Net short positions rose for the ninth consecutive week and reached record levels. That is, most of the major oil operators are likely to insure their future production against a potential oil price depression.
Much of the US oil producer has futures contracts for the end of the third quarter last year at an average price of $48.95 a barrel.
Of course, there is a danger of further rising oil prices, given the record short positions in futures, warn some market observers.
The US Energy Ministry predicts a production increase of up to 10 million barrels per day next year, which would be record in US manufacturing history. If this figure is reached, it is entirely possible for the price of "black gold" to be logically put to serious testing.