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Oil will be cheaper in 2016 than in 2015
Posted On 11 Aug 2015
JP Morgan cut its forecast for oil prices this and next year, citing increases in production, and indicated that it is possible that the crude oil reaches new lows in 2015 due to a rise in the seasonal refineries maintenance in October.
The bank lowered its estimate average of 2015 for tje Brent crude oil and the US oil at $ 16, and $ 19 for 2016.
The company expects that Brent prices are located in $ 54.50 and $ 52.50 a barrel this and the next year, respectively, while it reduced its outlook for US oil-of reference for Ecuador- at 48, $ 50 per barrel in 2015 and $ 46.50 per barrel in 2016.
Ecuador, that set in previous budgets an average oil price of almost $ 80, had to lower its revenue forecasts. Yesterday, crude gained $ 1.09 to close at $ 44, 96. But still does not stay above $ 50.
Source: http://expreso.ec/expreso/
EcuadorTimes “The first ecuadorian digital newspaper with bilingual news on the web”
