The world Bank has promoted for 2016, its forecast for the oil price from 37 to 41 dollars per barrel. This is stated in the message of the organization.
It is noted that the forecast was raised on the back of improved market sentiment and a weaker dollar. The world Bank believes that the oversupply in markets is expected in the future will subside.
“We expect somewhat higher energy prices during the year, as markets regained balance after a period of oversupply,” said senior economist John Baffes.
However, in his opinion, energy prices could fall even more if OPEC will increase production significantly in countries not included in OPEC production will not fall as fast as expected.
In the course of trading on the London exchange ICE on Tuesday, April 26, the price of Brent crude oil exceeded $ 45 per barrel. According to 22:03 GMT, the price of standard grade amounted to 45.8 per dollar. This is evidenced by the trading platform.
April 17 in the Qatari capital Doha hosted a meeting of representatives of the countries-manufacturers of oil. It was expected that the parties will sign an agreement to freeze production to prevent further fall of prices for hydrocarbons. But the deal never took place — Saudi Arabia declined to sign any documents without the participation of Iran, the representatives of the Islamic Republic in Doha arrived.