The investment banks predicted the conservation of oil below $60 in 2016


Moscow. December 3. The price of oil will remain below $60 per barrel the main part of 2016, according to a survey of eleven investment banks conducted by The Wall Street Journal.

They expect the average Brent crude will cost next year $57 per barrel. It’s one dollar lower than the previous forecast. The average price of WTI is expected to average $53 per barrel.

Just four months ago many bankers predicted a rise in price of oil to over $70 per barrel in 2016, the newspaper notes. However, the market is increasingly ubiraetsya that the situation with excess supply to the world market and will remain a significant part of next year that will continue to put pressure on prices.

Now analysts predict that Brent will not be able to overcome the level of $60 per barrel before the fourth quarter, while WTI will reach this level only in 2017.

On average in 2017 Brent will cost $67 per barrel and WTI – $64 per barrel, respondents believe the WSJ.

The January futures for Brent crude on London’s ICE Futures exchange to 11:38 MSK rose $0,47 (1,11%) – to $42,96 per barrel. Futures prices for WTI crude oil for January in electronic trading on the new York Mercantile exchange (NYMEX) increased $0.4 (1%) to $40,34 per barrel.

At the end of trading on Wednesday both brands fell by approximately 4.5%.