JPMorgan: Average price for Brent oil will be $ 45 per barrel next year

Baku. 8 August. REPORT.AZ/ Failing to exceed $ 53 / barrel Brent crude oil price has created a risk of correction in prices. Report informs citing the Forexpf.ru, analysts of US JPMorgan Bank said.

According to analysts, crude continues to remain in bear market which is the downward trend. According to the report, prepared by the Bank for oil prices, there is no catalyst for increasing oil prices, on the contrary, there are many reasons for decline. Regarding oil prices, analysts say that Libya and Nigeria will increase rate of decline in production from 750,000 bpd in the first half of the year up to 450,000 bpd in the second half of the year.

According to JPMorgan's forecast, the average price for Brent oil in 2018 will be $ 45 per barrel, while WTI will be $ 42 per barrel. Even in the bank, this forecast is very optimistic. The Bank’s forecast on disbalance in the oil market for 2018 increased from $ 1.1 mln bpd up to 1.3 mln bpd.