OPEC: Oil prices will reach 155 USD/barrel in 2040

Baku. 8 November. REPORT.AZ/ Nominal price for oil exported by OPEC members can reach up $155/barrel ($92/barrel with 2015 prices) by year 2040.

Report informs referring to the TASS, World Oil Outlook report of the OPEC covering period until year 2040, says.

The report issued in 2015 also stated that oil prices would drop to $40 in 2016 and rise $5 consecutively each year until reaching $65/barrel ($60/barrel with 2015 prices) nominal price in 2021. “These assumptions suppose gradual improvement in oil market”, - stated in the report.

Experts of the cartel think that this assessment is not forecast and must not regarded as expression of desires of OPEC countries: “These are simply assumptions and OPEC analytics develop forecasts based on them”.

Notably, OPEC oil price is an index expressing average of market prices of all oil brands produced by OPEC members.