21.01.2015 - Average Oil Price per Barrel in 2015 is Expected at $56.7 — IMF
The IMF expects this year the average price of oil on world markets to hover around $56.73 per barrel, and in the future — $63.88, the agency reported on Tuesday at the World Economy prospects presentation in Beijing. The average price was determined by simple arithmetic — by taking the average prices of Brent, Dubai and West Texas oil. For the sake of comparison, the report mentioned that the average price of oil in 2014 was $96.3 per barrel. The commentary to the report provides background to the falling oil prices, for example that since September 2014, the price of oil fell by approximately 55%. This decrease is a result of the unexpected low demand for oil in some major economies, especially in the emerging markets...............................................Full Article: Source
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