Although current supply and demand fundamentals point to a possible rise in oil prices by the end of 2017, next year’s supply will likely outgrow demand and depress oil prices , according to a panel of industry analysts at the S&P Global Platts Asia Pacific Petroleum Conference. In 2018, non-OPEC supply from U.S. shale will increase, and the current deadline for OPEC’s cuts—March 2018—also points to higher OPEC supply when the production pact ends, if it ends at the end of Q1 2018. OPEC is taking its time on deciding whether to extend and/or deepen the cuts, and is saying —as usual—that “All options are left open.” ”I don’t think we go any higher than we are today,” Mike Wittner, managing director and global head of oil research at Societe Generale, said at the panel. Although market rebalancing is underway, OPEC and friends would have to extend their collective […]