The average price of crude oil will be $ 66. per barrel in 2019 and $ 65. per barrel in 2020.
Oil prices in 2019 will be lower than previously projected because of weaker-than-expected growth in the world economy and increasing oil production in countries outside OPEC. About it reported in a press-service of the UN.
“Besides, all expectations surpassed oil production in the United States,” said the UN, citing world Bank data.
According to UN forecasts, the average price of crude oil will be $ 66. per barrel in 2019 and $ 65. per barrel in 2020.
“It is obvious that the price cycle for commodities has come to an end, and this creates problems for exporters, but can open new opportunities for importers,” – the press service quoted the UN speech of the Vice-President of the world Bank jailbreaking Pazarbasioglu. In her opinion, exporters may need to diversify the economy, to adapt to the decline in profit from sale of raw materials.
According to the forecast, energy prices in General – including natural gas and coal – will be in 2019 on average 7.9% below the level in 2018.