British analysts forecast oil price at $40 per barrel
Azerbaijan, Baku, April 30 / Trend , A.Badalova/
Analysts of the British leading independent macroeconomic research consultancy- Capital Economics forecast oil price at $40 per barrel in 2009-2010.
According to a report, the price for Brent will remain at $40 per barrel in 2009.
On April 29, oil prices increased on world markets to $51 per barrel. As for auction on the New York mercantile exchange the cost of one barrel of WTI increased by $0.5 to $51.4 per barrel. The price for Brent increased by $0.4 to $51.2 per barrel on the London mercantile exchange.
The reason for increase of oil prices has become the information of the U.S. Energy Information Agency (EIA) on the reduction of gasoline reserves by 4.7 million barrels.
The ongoing recession of the world economy will likely to cause reduction in prices.Do you have any feedback? Contact our journalist at: [email protected]