The Globe and Mail reports in its Friday, Feb. 1, edition that a Reuters poll shows oil prices will struggle to gain much upward traction this year, as concern about the global economy and growth in United States crude supply could offset a boost from OPEC production cuts and sanctions on Iran and Venezuela. A Reuters dispatch to The Globe reports that Julius Baer analyst Carsten Menke says, "The 'low for longer' view is deferred but not repealed." The survey of 39 economists and analysts forecast Brent crude oil futures to average $67.32 (U.S.) a barrel in 2019, down from the $69.13 (U.S.) projected in the previous monthly poll. This is the third consecutive month in which analysts have cut their oil price forecasts. Emirates NBD analyst Edward Bell says: "Oil demand will underperform long-run averages in 2019 as major consuming economies face a slowdown and serious downside risks, not least of which is the U.S.-China trade dispute. Despite OPEC cuts, supply growth will still be positive and contribute to an overall market surplus and stock builds in 2019." The price of Brent marked its first annual decline in three years in 2018 and has averaged about $60 (U.S.) a barrel so far this year.