The price of futures for WTI crude oil as of 13.00 Moscow time has grown on 0,68%, to 44,91 per barrel. December futures for Brent oil rose in price on 0,56% – to 48,26 USD per barrel.
MOSCOW, 26 Jan. World oil prices continue to rise after a sharp drop last week, but analysts still predict a slow increase of consumption and saving in excess of the coming months, according to AFP.
As of 13.00 Moscow time the cost of December futures for North sea petroleum mix of mark Brent has grown on 0,56% — to 48,26 USD per barrel. The price of futures for oil of mark WTI has grown on 0,68% — to 44,91 per barrel.
Oil prices may begin to decline sharply due to the fact that the global capacity for storage of petroleum products is close to its exhaustion, which is another factor to oversupply in raw materials, according to the report of Goldman Sachs, which cites Reuters.
ANZ Bank analysts suggest that oil demand will remain weak until the end of 2015. Experts Energy Aspects predict a sharp slowdown in global oil demand in the fourth quarter of this year at 0.8 million barrels per day, which is the slowest growth over the last five quarters.
According to the chief economist of the IEA Fatih Birol (Fatih Birol), due to low oil prices, investments in the oil sector in 2016 is likely to continue to curl. “If this forecast will come true, investment in the oil sector will decline two years in a row for the first time in two decades,” he said.
Investors will also be closely watching data from the US and the fed statements on the last two this year the meetings of the regulator next week and in December. However, until significant movements in the value of the metal is not expected, experts say.