Oil prices have been higher so far this year than predicted, as bearish forecasters focus on worries about future oversupply and faltering demand, Reuters data shows.

Forecasts of North Sea Brent crude oil futures prices in 2014 have been 3-4 percent below the 12-month moving average for actual prices over the last 18 months, and are still around $4 per barrel below the spot market.

Reuters surveys top oil analysts at more than 30 banks and other leading financial institutions every month for their expectations of the world's crude oil benchmark. [O/POLL]

Since estimates for this year were first gathered at the end of 2012, the Reuters monthly survey has forecast the average Brent price for 2014 between $103.50 and $109. The latest survey projected prices this year would average $105 per barrel.

The 2014 Brent forecast has tended to follow the average actual price over the previous 12 months minus a discount of 3.6 percent, or $3 to $4 per barrel.

So far this year, the average closing price for front-month Brent futures has been close to $108 per barrel.

The Reuters data suggests oil analysts have tended to underestimate the loss of supply from key oil producers such as Libya, Iraq and Iran, and may have been too gloomy on the outlook for global oil consumption.