Mubasher: Qatar National Bank (QNB) has raised its expectations for oil prices this year.

The bank’s weekly report expects Brent crude to average $60 to $65 per barrel, compared to its previous estimates of $55 to $60.

The report also expects non-OPEC crude production to rise to 1.7 million barrels per day in 2018, as producers will try to benefit from the high prices.

American output from shale oil and other sources will reach 1.35 million barrels per day, the report indicated.