Baku 27° C
Citigroup: Oil prices may rise by $ 10
Energy
- 18 April, 2017
- 09:48
Baku. 18 April. REPORT.AZ/ If the duration of the Vienna agreement on reduction of oil production extended, Brent crude oil prices will rise by 10 USD/barrel and reach 65 USD/barrel by end of 2017.
Report informs citing Bloomberg, Citigroup analysts forecasted.
According to experts, extension of agreement by OPEC and non-member countries will lead to the reduction of global oil reserves and therefore by the end of year oil prices will go up.
However, analysts said that the increase in US oil production will be compensated with production cuts by OPEC and non-member countries.
Citigroup also notes, if agreement on production cuts will not be extended sharp decline in oil prices expected.
Author
Latest News
09:09
TikTok may introduce money transfer system
ICT08:34
Trump orders halt to talks with Iran
Other countries23:58
Guyana increases its share of ExxonMobil's offshore oil production to 39.8%
Other countries23:49
US judge allows Trump to end thousands of Ethiopians' deportation protections
Other countries23:40
Zakharova: Statements by Russian journalists wanted by Baku don't reflect Moscow's position
Region23:31
Lebanon to hand over Assad-era general to Syria
Other countries23:15
Araghchi: Pezeshkian's phone conversation with Ilham Aliyev opened new chapter in relations between two countries
Region23:10
France to use AI to test government cybersecurity after hacker attack
Other countries23:00