OPEC faces 'tall order' for oil to hold above $50 in Q4
Oil prices will stage a modest recovery in the fourth quarter to average around USD 50 a barrel, but additional gains will hinge on OPEC not only ratifying a deal in late November to cut supply but sticking to those limits.
Brent crude, the benchmark for two-thirds of the world's traded oil, will likely average USD 49.60 a barrel for the fourth quarter, up from almost USD 47 a barrel in the prior quarter, the survey of 31 commodity strategists, analysts and economists showed. OPEC agreed on September 28 to cut output to a range of 32.50 million barrels a day and 33.0 million from 33.2 million barrels a day, its first output cut since the 2008 financial crisis.
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Oil prices will stage a modest recovery in the fourth quarter to average around USD 50 a barrel, but additional gains will hinge on OPEC not only ratifying a deal in late November to cut supply but sticking to those limits. 
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