...

Capital Economics reveals forecasts for oil prices

Oil&Gas Materials 19 October 2016 11:41 (UTC +04:00)

Baku, Azerbaijan, Oct.19

By Leman Zeynalova – Trend:

Brent crude oil prices will be $45 per barrel in the fourth quarter of 2016, as compared to $37 per barrel in the same period in 2015, according to the analysts of the UK Capital Economics consulting company.

The prices for Brent are forecasted to be $50, $55, $58 and $60 in the first, second, third and fourth quarters of 2017, respectively, Capital Economics said in its report obtained by Trend.

The report said that Brent crude oil prices stood at $40, $50 and $49 per barrel in the first, second and third quarters of 2016, as compared to $55, $64 and $48 per barrel in the same periods in 2015, respectively.

This is while the WTI crude oil prices are expected to $45 per barrel in the fourth quarter of 2016, as compared to $37 per barrel in the same period in 2015.

The prices for WTI oil are forecasted to be $50, $55, $58 and $60 per barrel in the first, second, third and fourth quarters of 2017, respectively, according to the Capital Economics.

The report said that WTI prices stood at $38, $48 and $48 per barrel in the first, second and third quarters of 2016, as compared to $48, $59 and $45 per barrel in the same periods in 2015, respectively.

Tags:
Latest

Latest