(Energy Analytics Institute, Jared Yamin, 12.Aug2018) – The World Bank expects the price of oil to average $65 per barrel in 2019.
“Oil prices are expected to average $65 per barrel in 2019. While projections indicate that prices will fall from their April 2018 level, they should be supported by a continuing restriction of production by member producer countries and non-members of the Organization of Petroleum Exporting Countries (OPEC) and firm demand,” reported the daily El Diario, citing Shantayanan Devarajan, director of Development Economics and interim chief economist at the World Bank.
“The acceleration of global growth and the increase in demand are important factors that explain the widespread increases in the price of most commodities and the forecasts of higher increases in the price of these products in the future,” announced Devarajan.
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