RE:Oil to be moderately higher in 2017hawk, I follow these things since long enough to say that most banks and analysts just follow the price. When it was $30 they were talking lower or stable for 2016 and modest yearly increase after. They now set themself at the new price. But some others talk about $60 and even $70 ahead.
Will OPEC respect their words? easy to write speculative articles now, but the 1 million b/d cut by US (alone) can't get fully back online in a year. Even if we see some rigs back to work since a few weeks it is far away from peak. OPEC will surely cut some in the short term and world demand is growing at about 1.2 million b/d over a year. There will be old projects back online with a price increase but not in a year.
What will these analysts say at $70? easy to guess, all imho.