The EBRD does not expect in increase in prices for oil higher than $65 in the medium term

The European Bank for Reconstruction and Development (EBRD) expects that the price of Brent crude oil in the medium term will be in the range of 55-65 dollars for barrel, it is told in the updated report of Regional Economic Prospects bank, Trend reports.

"The price of Brent crude oil in the medium term will remain at the level of 55-65 dollars for barrel as increase in demand can be reached due to increase in production of slate oil in the USA", - it is said in the document.

In the report it is noted that in September oil prices reached the highest levels since summer of 2015 partially thanks to depreciation of dollar and stronger global oil demand.

"The average oil price in the first 10 months of the current year was 19 percent higher, than for the same period of 2016", - it is said in the report.

At the same time in the evening on Tuesday the cost of January futures for the North Sea oil mixture of the Brent brand was at the level of 63,87 dollars for barrel. The price of December futures for WTI crude oil – at the level of 57,07 dollars for barrel. A day earlier the oil price of both brands showed record marks for more than two years.

 

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