Baku 12° C
Citigroup: Oil prices may rise by $ 10
Energy
- 18 April, 2017
- 09:48
Add Report.az to preferred Google sources
Stay up to date with the top news!
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
23:54
Parviz Shahbazov: Strong political ties underpin Azerbaijan–Ukraine economic cooperation
Foreign policy
23:42
Shmyhal says Black Sea–Caspian links could open new trade and energy routes
Foreign policy
23:23
Shmyhal calls on Azerbaijani companies to help rebuild Ukraine
Foreign policy
23:18
Russia plans to return nine children to Ukraine in November, official says
Region
23:06
QatarEnergy in talks with US suppliers for long-term LNG deals
Other countries
22:48
Putin ready to help end US–Iran conflict, Rezaei says
Region
22:16
Iran's Rezaei delivers letter from Khamenei to Putin
Region
21:58
Russia and Iran sign documents on Rasht–Astara railway project
Region
21:42
Zelenskyy and Costa discuss Ukraine's EU accession and Abu Dhabi talks
Other countries