British analysts project Brent 2009 and 2010 prices

Oil&Gas Materials 26 February 2009 18:12 (UTC +04:00)

Azerbaijan, Baku, Feb. 26 / Trend , A.Badalova/

According to British Consulting, a leading independent macroeconomic research consultancy, prices on Brent oil will average $40 per barrel in 2009 and 2010.

"We don't expect a significant increase in prices this year," Capital Economics told Trend .

The average prices on Brent oil will remain unchanged at $40 per barrel in 2009, the analysts said.

With prices at roughly $40 per barrel, limited funding will deter investment offers worldwide. There is a risk that the OPEC will significantly reduce oil production quotas, the company said in a message.

World prices on oil increased 6 percent today. As a result of trades on the London Stock Exchange on Feb. 25, the value of April Brent futures hit a peak since Feb. 13 at $44.29 per barrel, a 1.79-dollar rise.