RBC cut its forecast for WTI in 2016 to $40


Moscow. January 13. Analysts at RBC Capital Markets downgraded the forecast of the average price of WTI crude oil this year to $40 per barrel from the previously expected $52 per barrel.

They expect to increase quotes in the next year to $57 per barrel against the previous estimate of $62 per barrel, informed Bloomberg Agency.

RBC refers to a variety of factors, including the expected return on the market of Iranian oil, reducing demand from China, warm weather in the U.S., as well as what is not included in OPEC producers have adapted to the low prices.

According to experts, quotes in the short term can drop to $20-30 per barrel. Closer to the end of the year the prices are expected to return to $50 a barrel amid recovery in the second half.

RBC analysts predict the average price of Brent crude oil this year at $43 per barrel in 2017 – $60 per barrel.

Quotes of the February gold futures on the mark Brent on London’s ICE Futures exchange at 12:07 MSK increased by $0,64 (2,07%) to $31,5 per barrel. Contracts for mark WTI for February in electronic trading on the new York Mercantile exchange (NYMEX) had risen to $0,73 (2,4%) to $31,17 per barrel.