The world Bank raised its forecast for the price of oil from $41 to $43 per barrel, says the quarterly report Commodity Markets Outlook. The reason for the supply disruptions and demand growth in the second quarter. As explained in the report of the world Bank, oil prices rose 37% in the second quarter of this year due to fires in Canada and the “sabotage of the oil infrastructure in Nigeria”.
“We expect slightly higher prices in the second half of 2016 at the time, as in the oil market decreases the surplus. At the same time, stocks remain very large and will take time for its reduction,” said chief economist and lead author of the Commodity Markets Outlook John Baffes.
Overall energy prices, according to the current forecast of financial organizations will fall by 16.4% compared to the previous year. So now the WB suggests a more gradual decline — in the April forecast, it was 19.3%.
The world Bank expects a decline in prices of almost all basic commodities in 2016, despite the recovery of prices of some of them.
Yesterday cost of futures for oil of mark Brent with delivery in September in the course of trading on the stock exchange ICE fell below $45 per barrel. As of 19:30 the September futures trading at $44,79.