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U.S. | Oil Prices Outlook. Second quarter 2018

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The geopolitical premium marked the evolution of oil prices in 2Q18. OPEC may decide to boost production to compensate the shortfall left by Iran and Venezuela. Prices will remain supported by robust demand from China, India and the US. We continue to expect convergence to long-term equilibrium as demand growth converges to historical trend and US export capacity expands.


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