The oil market will be a tale of two halves in 2019, according to Wall Street forecasters.
Oil analysts see prices recovering in the first six months of 2019, following a sell-off that has slashed the cost of crude by about 40 percent since October. But in the back half of the year, commodity watchers anticipate new headwinds for the oil market.
The upshot is Wall Street expects a moderate recovery for oil in 2019. Investment banks see Brent crude, the international benchmark for oil prices, averaging about $68-$73 a barrel next year. Forecasts for U.S. crude mostly fall in a range between $59-$66 a barrel.
