Azerbaijan, Baku, Jan. 12 / Trend A.Badalova /
The U.S. expects oil price to hit $ 100 per barrel by 2014 from the current $80-$82. "Based on our long-term projections, in 2014 oil prices will amount to $100 per barrel," Energy Information Administration's (EIA) analyst Neil Gamson Wrote Trend in an e-mail.
Based on the EIA forecast, in the future oil price will considerably increase compared to the current level. Gamson said EIA predicted oil prices to hit $200 per barrel in 2032.
As a result of trades on Friday, Jan.8, the February futures for North Sea oil branded Brent dropped by $0.14 to $81.37 per barrel at the London Stock Exchange. The February futures contract for the U.S WTI oil rose by $0.09 up to $82.75 at the New York Mercantile Exchange (NYMEX).
According to the expert, EIA short-term forecasts suggest the price for U.S. crude oil WTI to hit about $80 per barrel in 2010.
EIA connects the recent growth in world oil prices with optimistic expectations regarding the recovery of world economy, as well as high oil demand.
Nevertheless, EIA expects crude oil prices to decline in the next few months and amount to $75 per barrel in February. The price will rise again to $82 per barrel in late year.
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