Credit Suisse expects further growth of oil prices
Baku, Azerbaijan, Oct. 5
By Taleh Mursagulov - Trend:
One of the largest Swiss banks, Credit Suisse, expects oil prices to continue to rise in 2019, the bank told Trend October 5.
The bank noted that the risks of reducing oil exports from Iran, the economic crisis in Venezuela, as well as the escalation of the trade war between the United States and China provide a higher potential for the rise of oil prices.
The Credit Suisse bank predicts the price of Brent crude oil for the fourth quarter of 2018 at $77 per barrel.
In addition, the bank expects that the price of Brent will equal to an average of $75 per barrel during 2019-2020.
At the same time, the Credit Suisse bank considers necessary to maintain the oil prices at the level of $70 in order to ensure sufficient capital investments in the production of oil in OPEC + countries.