BAKU, Azerbaijan, Nov. 15
By Anastasia Savchenko - Trend:
The price of oil will remain stable if no cataclysms or force majeure circumstances are foreseen on the world stage, Director of the Caspian Barrel Oil Research Center Ilham Shaban told Trend.
"Following the results of the first 10 months of 2019, the average oil price amounted to $60 per barrel. However, the average price was $64, following the results of first 10 days of the current month," the expert said.
The expert noted that the main factors affecting the increase in oil prices are the weakening economic conflict between the US and China, as well as data released last week by the US energy department on the decline in oil reserves.
"It is expected that the price of oil will be around $63 per barrel by the end 2019. This price for world oil is acceptable for both producers and consumers," Ilham Shaban said.
The average price of Brent crude oil in 2018 amounted to $69.8 per barrel. In October, it reached $85 per barrel, but by the end of the year it dropped to a minimum, almost collapsing below $50 per barrel, but finished the year at $53.8 per barrel.
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