Baku, Azerbaijan, Nov.1
By Leman Zeynalova – Trend:
The range of Brent oil price between the fourth quarter of 2017 and the fourth quarter of 2018 will vary between $57 per barrel and $55 per barrel, according to the British economic research and consulting company Capital Economics.
Capital Economics forecasts that Brent crude oil prices will stand at $57 per barrel as of the fourth quarter of 2017, while West Texas Intermediate (WTI) oil will be $54 per barrel in the same period.
Quarterly forecasts for Brent crude oil prices in 2018 are as follows: $57 per barrel in Q1, $56 per barrel in Q2 and $55 per barrel both in Q3 and Q4.
This is while expected prices for WTI in 2018 are $54 per barrel the fourth quarter of 2017, Q1 and Q2 2018 and $53 per barrel in Q3 and Q4 2018.
OPEC basket price will stand at $54 per barrel in Q4 2017 and Q1 2018, $53 per barrel in Q2 2018, $52 per barrel in Q3 and Q4 2018.
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