Oil prices to remain subdued in near term due to rising output in US

But strong oil-cap compliance by Opec and non-Opec members, falling output in Venezuela limit global supply, may push up prices in longer run

Oil prices are expected to remain subdued in the near term, although they are likely to be at relatively high levels during the year. The latest analysis by Natixis, a London-based investment bank, says that prices are likely to remain subdued during the second quarter of calendar 2018, but will start rising thereafter. Brent Crude touched a high of $70 per barrel in mid-January this year, but from there it shed as much as 10 per cent and is now trading at around $63.

Natixis says, “The wind has been taken out of crude’s sails somewhat in recent weeks,