Azerbaijan, Baku, Nov. 4 /Trend, A.Badalova/
World oil prices will fall during 2012 and continue falling in 2013, analysts of the British leading consulting company on economic studies Capital Economics believe.
"The sharp falls in commodity prices in the third quarter illustrate the importance of macroeconomic and financial market factors on the demand side, which once again have more than offset the perceived tightness of supply," the British analysts' report said.
According to the analysts' estimates, the price for Brent will amount to $100 per barrel by the end of 2011.
In the first quarter of 2012 analysts predict Brent prices at $85 per barrel.
Analysts expect fresh falls in 2012 as global economic activity remains sluggish, risk appetite stays fragile and the dollar recovers more ground.
"We continue to expect Brent to fall back to around $85 per barrel in 2012 and further still in 2013, reflecting a mix of fading supply problems, sluggish demand, weak global risk appetite and a recovery in the dollar," the report said.
According to analysts' forecasts, in 2013 Brent price will amount to $75 per barrel.
"Our projections are just about the lowest in the market, but at $75-85, Brent would still be well above pre-crisis levels," the analysts said.
Following trading on Thursday, Nov.3, WTI December futures at NYMEX increased by $1.56 to $94.07 a barrel. Brent December futures at LSE increased by $1.49 to $110.83 a barrel.