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Analysts at Evercore raised the forecast for the average Brent oil price in 2018 from $65 to $70 per barrel, in 2019 - from $70 to $75 per barrel. They believe that fuel reserves will decline, despite the increase in production by the OPEC + countries. World demand this year could grow by 1 million 560 thousand barrels per day, next year – by 1 million 370 thousand. According to analysts, world oil supplies will increase by 1 million 570 thousand barrels per day in 2018. It is expected that oil production in the US will grow by 1.5 million barrels per day this year, and next year its growth rate will slow down to 1 million 200 thousand barrels per day.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
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