Oil Prices to Drop up to $80 per Barrel by 2009: British Company
Azerbaijan, Baku, 14 April / corr. Trend A. Badalova/ According to the macroeconomic research consultancy Capital Economics forecast, the price for Brent oil will total $80 for a barrel in 2009 against $94 in 2007, Capital Economics said to Trend on 14 April. The Company places the price of Brent at $85 in 2008.
The British company forecasts a fall in gold prices. In 2008, an ounce of gold will total $750. In 2009, the gold prices will drop by $50 up to $700 an ounce.
After the statement by the G-7 Finance Ministers and Central Bank Governors on the fall in tendencies in world economy in a short-term perspective, the oil prices in the market dropped. The May futures for Brent decreased by 50% and totaled to $108.25 for a barrel. The May futures for American light oil decreased by 54 cents to $109.60 barrels.
The correspondent can be contacted at: [email protected]