Baku, Azerbaijan, Aug.2
By Leman Zeynalova – Trend:
Brent oil prices are expected to stand at $70 per barrel in the third quarter of 2018 and drop to $65 per barrel in the fourth quarter of the year, UK-based Capital Economics consulting company said in its report obtained by Trend.
The analysts from Capital Economics believe that Brent prices will continue to drop in 2019.
As of the first and second quarters of 2019, Brent prices are forecasted at $62 and $60 per barrel, respectively.
This is while the forecasts for the West Texas Intermediate (WTI) oil are as follows: $65 per barrel in Q3 2018 and $60 per barrel in Q4 2018.
WTI prices are expected to stand at $57 per barrel and $55 per barrel in the first and second quarters of 2019, respectively and further drop to $52 per barrel in the third and fourth quarters of the year.
OPEC basket price is expected to stand at $67 per barrel in Q3 2018 and $62 per barrel in Q4, according to Capital Economics. This figure will drop to $59 per barrel in the first quarter of 2019 and further to $57 per barrel in the second quarter of 2019. It will stand at $55 per barrel and $52 per barrel, respectively in Q3 and Q4 of 2019.
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