Brent crude was trading at $67.05; typically Alaska North Slope crude slightly lags the price of UK Brent. In August of 2016, North Slope oil was selling at about $50 a barrel and state analysts did not expect it to rise further, due to an oversupply of oil in the world markets. The Alaska Department of Revenue now forecasts North Slope oil to be $56 per barrel in the fiscal year ending in July, and $57 in FY 2019. But for now, oil prices are trading at the upper end of their expected midterm range of $40 to $60 per barrel. These comparatively higher prices will inure to the benefit of the Alaska State Treasury, at least for now.

Source: Libya Today December 27, 2017 00:22 UTC