The average cost of North sea Brent crude oil in 2016 will be $34,28 per barrel. This forecast is contained in the monthly short-term forecast of the office for energy information the U.S. Department of energy (EIA).
Thus, the forecast for Brent cost for the current year once again lowered in comparison with the February forecast of $37,52 per barrel. The forecast for 2017 is$40.09 per barrel against the forecast in February of $50, reports RIA “Novosti”.
On the morning of Wednesday, the world prices for “black gold” in the morning, rose during electronic trading on the London and new York stock exchanges. So, futures for oil of mark Brent with delivery in may on London’s ICE Futures exchange rose 0.20% to $39,73 per barrel. April futures for light WTI oil on the new York Mercantile exchange (NYMEX) rose by 0.27% to $36,60 per barrel.
Oil prices stabilized after Monday she gave up a part played earlier in the week the positions on the signals that the oversupply of fuel is saved, and alerts the analyst that the rise in prices to marks at $40 per barrel may be temporary.
As noted by the expert-an analyst of MFX Broker Alexander Grishenkov, “support to quotations of “black gold” had expectations about meetings of the countries-manufacturers of oil, which, as stated last week the Minister of energy Alexander Novak, is to occur in the period from 20 March to 1 April”. “In addition, the market reacted positively to reports that the oil production in the U.S. declining for the past six weeks in a row due to reducing the number of working rigs. Oil prices also received a boost from a strong report on the US labor market, published on Friday, 4 March,” — said in comments the expert.