World Bank expects crude oil prices to fall
- 5 years ago
Crude oil prices are expected to be lower than previous estimates for this year and 2020, according to the World Bank.
Its outlook report on Commodity Markets forecast crude oil prices to average 66 U.S. dollars a barrel in 2019 and 65 dollars in 2020, a downward revision from the previous projection in October.
It cited the anticipated slowdown of global economic growth,... as well as greater-than-anticipated U.S. production as the reasons behind the revision.
The report also pointed out that the impact of Washington's sanctions campaign to curb Iranian oil remains uncertain... as it isn't yet clear how quickly countries will comply, if they choose to comply at all.
Its outlook report on Commodity Markets forecast crude oil prices to average 66 U.S. dollars a barrel in 2019 and 65 dollars in 2020, a downward revision from the previous projection in October.
It cited the anticipated slowdown of global economic growth,... as well as greater-than-anticipated U.S. production as the reasons behind the revision.
The report also pointed out that the impact of Washington's sanctions campaign to curb Iranian oil remains uncertain... as it isn't yet clear how quickly countries will comply, if they choose to comply at all.