Standard & Poor's cut its forecast for the price of oil in 2015
Saturday 26 September 2015 10:26


Standard & Poor's lowered the credit rating institution, Saturday, its forecast for crude oil prices in 2015, while also lowered its forecast for next year to reach Brent price of $ 55.

The firm said that the reduction indicates that the price recovery will take longer, because of the weakness of the fundamental factors of the market and a slowdown in the Chinese economy.

The S & P lowered its forecast for the global price of Brent crude in 2015 to $ 50 from $ 55 a barrel in the previous forecast as its forecast for US crude price cut in the same year, to $ 45 from $ 50 a barrel.

For 2016, the Foundation expects the Brent price of $ 55 a barrel and US crude West Texas Intermediate to $ 50.

And cut more than a dozen major international financial institutions over the past month its forecast for crude oil prices as she put down to the weakness of the fundamental factors of the market and a slowdown in the Chinese economy.

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