Azerbaijan, Baku, Apr. 8 / Trend A.Badalova /
Oil prices on world markets will continue to grow closer to around $90 per barrel. The global economic situation and U.S. macroeconomic indicators will be the main reasons for the growth.
May futures for the North Sea crude oil Brent on London Stock Exchange rose by $0.27 April 6 to 86.15 per barrel. May futures for U.S. crude oil WTI on the New York Mercantile Exchange rose by $0.22 to $86.84 per barrel.
Most Western analysts predict that world oil prices will exceed $100 per barrel over the next two years. The projected short-term rates are still far from record levels in 2008 at $147 per barrel.
Analysts at the U.S. bank Goldman Sachs predict the average price on WTI at $90 per barrel in 2010 and at $110 per barrel in 2011.
The German Deutsche Bank also has recently increased its projections on the backdrop of rising oil prices. According to the bank's analysts, the price on WTI oil will remain in 2010 at today's level and grow only in 2011. The bank forecasts the average price on the oil at $71 per barrel in 2010 compared to the $60 per barrel forecast earlier.
One of the largest U.S. investment banks Morgan Stanley predicts the average price on the oil at $95 per barrel in 2010 and $100 per barrel in 2011.
Analysts at the British bank Barclays Plc believes oil prices will fluctuate in 2010 at close to $100 per barrel level.
The U.S. Energy Information Administration projected the average price on WTI in 2010 at slightly below $81 per barrel. In the fourth quarter of 2011, the price on the oil will hit $85 per barrel, the administration reported.
Projections on World Oil Prices for 2010-2011
|
2010 |
2011 |
|
|
Goldman Sachs |
90 (W) |
110 (W) |
|
Deutsche Bank |
71 (W) |
- |
|
Morgan Stanley |
95 (end of the year) (W) |
100 (W) |
|
Barclays Plc |
100 |
|
|
EIA |
W - WTI