Azerbaijan, Baku, Nov. 26 / Trend A.Badalova /
Leading analysts of the British economic research and consulting company Capital Economics expect Brent price to fall back to below 100 dollars a barrel in 2013.
"We expect oil prices to drop back to $85 in 2013, but the picture may be clouded for a while yet by uncertainties in the Middle East," analysts said in their report.
Analysts stressed that the Middle East premium has typically stood between $5 to $20 per barrel since the Arab Spring began in earnest in early 2011.
Last week it has increased from less than $10 to more than $15.
Following the auction on November 23, the price on Brent futures for January increased by $0.83 to $111.38 per barrel. The cost of WTI futures for January in the New York Mercantile Exchange decreased by $0.9 and stood at $88.28 per barrel.
Capital Economics analysts believe that even at current levels global oil prices are already unsustainably high.
"Oil prices are already at levels that represent a substantial drag on the global economy," analysts said.