Azerbaijan, Baku, May 13 / Trend , A. Badalova/
United States Energy Information Administration (EIA) forecasts an average price of U.S. light crude oil WTI at $58 per barrel in 2010. In 2009, the average price of WTI is projected at $52 per barrel. These figures $5 and $1 per barrel respectively lower than lower than those forecast last year.
In the second half of 2009, the average price on WTI will be $55 per barrel.
However, according to the May report of EIA, the strong recovery of the world economy and low level of oil production by non-OPEC may lead to rapid and significant increase in world oil prices.
EIA expects the emergence of signs of recovery of world economy at the end of 2009-2010. Stabilizing the same rate of growth of world economy will begin in the coming months, the report said.
On May 12, oil prices on world markets exceeded $60 per barrel for the first time in six months. The incentive to raise prices has been the continuing weakening of U.S. dollar against the euro, as well as news about a substantial increase in oil imports in China. As a result of trades on the New York Mercantile Exchange (NYMEH) the price for WTI futures contract with delivery in June rose by $0.35, reaching $58.85 per barrel.
The Energy Information Administration is a statistical agency of the U.S. Department of Energy and was founded by the Congress in 1977.
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