According to the auction, the cost of the January futures for North sea Brent blend had dropped to 47,95 per barrel. The price of December WTI oil futures grew to 43,77 USD per barrel.
MOSCOW, 11 Nov. World oil prices have moved to lower on the background data of the American petroleum Institute (API) for stocks in the U.S., as well as on the forecast of the International energy Agency (IEA) on the cost of “black gold” by 2020, according to AFP.
As of 12.55 MSK price of January futures for North sea petroleum mix of mark Brent has decreased on 0,3% — to 47,95 per barrel. The price of December futures for oil of mark WTI has grown on 0,97% — to 43,77 USD per barrel.
The American petroleum Institute (API) released its estimates of oil reserves in the U.S. over the past week. According to these data, commercial stocks in the country last week rose by 6.3 million barrels, the forecast increase of 1 million barrels.
His assessment of this index on Thursday will be published by the U.S. Department of energy. According to analysts, the indicator will show an increase of 1,016 million barrels, to 483,816 million barrels. A week earlier, the oil reserves in the U.S. increased by 2,847 million barrels, or 0.6%, to 482,8 million barrels.
Oil prices continue to react to the IEA report that predicts that oil prices will rise to 80 USD per barrel by 2020, despite an unprecedented decline in investments — more than 20%. While the IEA does not exclude a sustained period of low oil prices, low growth of the economy the price of a barrel of oil could remain at $ 50 until the end of the decade.