Oil prices grow at the IEA’s projection for the cost of “black gold”

Oil prices grow at the IEA’s projection for the cost of “black gold”


The cost of December futures for North sea petroleum mix of mark Brent has grown on 0,21% – to 48,12 USD per barrel. The price of futures for WTI crude oil increased by 0.67% to 44,17 USD per barrel.

MOSCOW, 10 Nov. The world prices for oil show positive dynamics on Tuesday, the International energy Agency (IEA) at a cost of “black gold” by 2020, according to AFP.

As at 06.52 GMT the cost of December futures for North sea petroleum mix of mark Brent has grown on 0,21% — to 48,12 USD per barrel. The price of futures for WTI crude oil increased by 0.67% to 44,17 USD per barrel.

The IEA predicts that oil prices will rise to 80 USD per barrel by 2020, despite an unprecedented decline in investments — more than 20%.

The IEA projections coincide with the projections of OPEC. Earlier it was reported that the Organization of countries-exporters of oil expects average oil prices to $ 80 per barrel by 2020. In the medium term, OPEC expects demand for oil due to low prices. In the future, the cartel predicts that the average price for oil will grow by about $ 5 every year until 2020.

Since the beginning of summer 2014 to early 2015, oil prices have fallen more than twice — from 100 to 45 dollars per barrel mark Brent. The collapse in prices last year has reinforced the decision by OPEC November 27 save quota for oil production at 30 million barrels per day.