Oil prices will continue at low
In its quarterly report released on 22/07, the Banco Mundial has adjusted its forecast for oil prices. But as the prognosis, the barrel will follow below US$ 60.
As the adjustment, published in the report “Panorama on Commodities Markets”, the Banco Mundial reveals that the previous US$ 53 a barrel of oil could reach US$ 57.
The downtrend in the barrel price is explained, according to the institution because:
1 – Reserves remain high in the countries of the OCDE
2 – It should be a likely increase in exports from Iran in recent role nuclear power agreement signed by the countries with other nations
3 – Weakness of the world economy must press down the oil consumption