Oil prices will stage a modest recovery in the fourth quarter to average around $50 a barrel, but additional gains will hinge on OPEC not only ratifying a deal in late November to cut supply but sticking to those limits, a CNBC survey showed.
Brent crude, the benchmark for two-thirds of the world's traded oil, will likely average $49.60 a barrel for the fourth quarter, up from almost $47 a barrel in the prior quarter, the survey of 31 commodity strategists, analysts and economists showed..........................................Full Article: Source
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