Azerbaijan, Baku, Feb. 10/ Trend , A. Badalova/ The U.S. investment bank Morgan Stanley expects prices on WTI to fall to $25 per barrel by the second quarter of 2009.
The price on WTI will average $35 per barrel in mid-2009. The company forecasts reduced demand and lower oil prices due to world economic slowdown. The world economy will grow only 0.9 percent in 2009 and 3.3 percent in 2010.
Morgan Stanley says the financial crisis, which is expected to end in 2009, will harm world economic growth to a great degree.
The revival of world economy will boost prices on WTI which will average $55 per barrel in 2010 and $85 per barrel in 2011.
Price on WTI totaled below $40 first time for the last three weeks on NYMEX on Feb. 9. Prices on WTI March futures fell 61 cents and reached $39.56 per barrel. The sharp fall is attributed to concerns with deepening economic crisis in the U.S.
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