Fitch: Oil prices will reach 60 USD in 2019

Baku. 29 November. REPORT.AZ/ Fitch international ratings agency predicts oil prices increase up to 60 USD per barrel till 2019.

Report informs citing the RIA Novosti, however, the agency does not rule out oil prices decline in 2017.

The agency's report declares that a long period of time will be required for rise of the prices to 65 USD per barrel. Fitch predicts average oil prices at 45 USD in 2017, while 55 in 2018.

The report states that in the first half of 2017, demand and supply in the oil market will get equalized. Furthermore, US shale oil production and increase in oil reserves may led to lower prices in the coming year and only then, prices may increase.