The largest Bank of Norway promised a doubling of oil prices in 2016

The largest Bank of Norway promised a doubling of oil prices in 2016


Moscow. January 21. The biggest Bank of Norway DNB ASA predicts the end of the bearish trend in the oil market and growth in oil prices by half in the second half of 2016.

“The market will look in 2017 and will see the changes in the ratio of supply and demand. In the oil market there will be a change of sentiment, and such changes can go very fast,” said the head of DNB Markets in an interview with Bloomberg on the sidelines of an industry conference in Oslo.

According to estimates DNB, the prices of Brent oil will rise to $65 per barrel in the second half.

The head of “LUKOIL” Vagit Alekperov earlier said that oil companies expect higher prices in the second half of 2016. “Today in Russia there is a tendency to reduce investment in drilling, it could lead to a decline in production. Major new fields to enter is not planned. The goal is to improve the work with existing deposits,” Alekperov said on the sidelines of the world economic forum in Davos.

Earlier this week, the quotes fell below $28 per barrel, to the lowest level since November 2003.