Crude oil may rise on speculation members of the Organization of Petroleum Exporting Countries will join Nigeria and reduce output to counter a 20 percent decline in prices during the past two months.
Seventeen of 42 analysts, traders and brokers, or 40 percent, said prices will rise next week, according to a Bloomberg News survey. Fourteen forecast prices will fall and 11 predicted little change. A week ago, 56 percent of respondents said futures would decline.
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Crude oil may rise on speculation members of the Organization of Petroleum Exporting Countries will join Nigeria and reduce output to counter a 20 percent decline in prices during the past two months.
