Continued high global demand and geopolitical tensions will keep haunting the average oil price over 64 2007 dollars per barrel, according to a Reuters survey of analysts 32.
The latest revisions are the consensus 64,62 dollars for US crude in 2007. Consensus has climbed nearly two dollars in two months.
Concerns about Iran's nuclear program, violence in Nigeria and Iraq and disruptions in US production largely explain the increase 11% in prices since the end of last year.
But prices fell back to 8% in two weeks and are now at 11 dollars in their records of mid-July, due to an increase in inventories and a hurricane season so far without danger. The future of US light crude was trading at just over 67 dollars a barrel on Friday.