Although the oil market will remain oversupplied in the first quarter of 2019, the OPEC+ producer cuts will start to work in the second quarter and gradually rebalance the market to the point of Brent Crude hitting $80 a barrel in Q4 2019, according to energy information provider Argus Media. The market needs time to work through the current oversupply, Azlin Ahmad, editor for crude oil at Argus Media, told CNBC on Monday. The OPEC+ combined production cut of 1.2 million bpd takes effect in January 2019 for an initial six-month period, with a possible review in April. According to Argus Media, Brent Crude prices will trade at around $65 a barrel in Q1, some $68 in Q2, in the low $70s in Q3, and breaking above $80 per barrel in the fourth quarter next year, according to Ahmad. The most vital industry information will soon be right at […]