Economists have jacked up the projection for U.S. light crude to average $60.23 per barrel in 2019 from a $58.92 forecast in March in the second and most bullish upwards revision since the beginning of the year. The verdict was rendered by 31 economists in Reuters latest monthly survey , and it forecasts that oil prices are likely to stay elevated for the rest of the year as OPEC output curbs and an end to waivers on Iranian oil are expected to keep supply tight. For Brent crude, the experts have forecast and average $68.57 a barrel in 2019, an improvement on the March poll forecast of $67.12. The majority of polled analysts expect OPEC cuts to be extended till the end of the year, even though they expect the group to increase production to compensate for lower output in Iran and Venezuela. Meanwhile, Frank Schallenberger, head of commodity […]