Reuters: The average price of oil above $ 40

Published in: 20:20, January 29, 2016 - (5 visits)

Economy - opinion -
A poll conducted by the agency 'Reuters' news agency, said Friday that the average price of oil will increase only slightly to $ 40 this year, the biggest monthly cut expectations in the year amid a growing supply glut caused by an increase of Iranian supplies.

He predicted the survey of 29 economic analysts Brent to average US $ 42.5 per barrel, down ten dollars from last month's poll.

The average price of Brent around $ 54 a barrel in 2015 and down nearly nine percent in January after the collapse of about $ 115 a barrel in June 2014.

Oil prices have slid below $ 30 a barrel this month to its lowest level since 2003, under the weight of rising fears of inability even to keep up with strong demand for the supply and the difficulty of the top producers in the world agrees to curb supplies.

Thomas said Poh commodity markets analyst at Capital Economics 'most pressing of the market it will be the volume of oil is back Iran pumped', pointing out that 'any significant change in Iranian production up or down will affect the prices', as reported by 'Reuters', and I followed 'obelisk'.

Said Rahul Brithiana director of research at Crisil 'chance a decision by OPEC to cut production so far away. Saudi Arabia will not participate in the reduction of production without the participation of all members of OPEC and major producers such as Russia '.

Analysts expect the average futures prices for Brent and WTI 34.4 and $ 33.2, respectively, in the first quarter of the year.

According to the poll is expected to average US crude price of $ 41 a barrel this year, compared with about $ 49 in 2015.

JP Morhan was expected for the price of Brent in 2016 was the lowest at $ 31.25 a barrel and predicted at Standard Chartered Top 63 Dolara.anthy