Credit Suisse cut its forecast for WTI in 2016 to $38

Moscow. January 26. Analysts at Credit Suisse lowered the projected average price of WTI crude oil in the current year to $38 per barrel from $56 per barrel.

Assessment for the next year experts worsened to $54 per barrel from the previously expected $63 per barrel. In addition, were slightly reduced forecasts for 2018 to 2020, reported Bloomberg.

The bearish scenario Credit Suisse assumes falling of quotations of oil to $28 per barrel this year and to $45 per barrel in 2017.

The “bullish” scenario assumes that the price of WTI in 2016 at $44 per barrel and $73 per barrel next year.

Revision of forecasts reflects the “significant and growing inventories, high delivery and restrained by a slowdown in demand growth,” according to the report of the Bank. Fundamental factors should be balanced in the middle of this year as production in countries that are not members of OPEC, is greatly reduced, while demand continues to rise.