A monthly study by The Wall Street Journal showed that bank analysts doubted that the trend to reduce fuel stocks in the world remains and thus have worsened the forecasts of oil prices for the third month in a row. Negative impact on prices in the last three years was provided by oil reserves, which began to decrease as demand in the US increased, and as the OPEC + countries cut their production. However, as the States continue to increase production, the market situation may change. Participants in the survey expect that in 2018 the price of Brent will amount to $53 per barrel, WTI – to 51 dollars per barrel. In the last forecast, the Brent price was expected at $55 per barrel, WTI – at $52 per barrel. For 2019, their forecast is lowered for Brent from $57 to $55 per barrel, for WTI - from $55 to $53 per barrel.
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. ...