U.S. ups forecasts for oil prices
Azerbaijan, Baku, Nov. 11 / Trend A.Badalova /
The U.S Energy Information Administration (EIA) increased the price forecast for U.S. crude oil WTI at $ 7 per barrel for late 2009. According to new EIA forecasts, the average price of WTI for October-March hits $77 per barrel.
The U.S. Energy Information Administration (EIA) expects an increase in average prices for American WTI crude oil to $75 per barrel in winter of 2010.
In December the average price of WTI will reach $81 per barrel, the EIA forecasts.
According to the EIA November report, this price is possible in case of continuation of the improving economic situation in the U.S. and world economy, particularly in Asia, where the current growth is higher than expected.
Under the EIA forecasts, the U.S. GDP will grow by1.9 percent in 2010, while the world GDP growth will be 2.6 percent.
As a result of trades on Tuesday, on Nov.10, futures price for WTI of the December delivery fall by $0.38 to $79.05 per barrel at the New York Mercantile Exchange (NYMEX). The December futures contract for North Sea oil branded Brent rose by $0.27 to $77.5 per barrel.
The State Energy Information Administration is statistical agency of U.S Department of Energy established by the Congress in 1977.
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