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"International Finance" is expected to increase the price of a barrel of oil to $ 72 next year
MAR 16, 2015
"International Finance" is expected to increase the price of a barrel of oil to $ 72 next year
603
Hussein Abbas-Anatolia
Expect Institute of International Finance to rise the price of a barrel of oil to $ 72 in the next year, and an average price of about $ 60 in 2015, and that oil demand will rise from the second half of this year as demand growth for a low price responds and declining supply growth, especially in the US United.
According to the data seen by the agency Anatolia, that US crude fell to $ 44.54 a barrel, and Brent crude fell to $ 54.18 in trading futures markets delivered April 15 / April next by about nine o'clock GMT on Monday.
Oil prices have fallen more than 50% since June last, and until February last, to near its lowest level in six years.
The institute said in a report obtained by Anatolia, a copy of it on Monday, said that the outlook is shrouded in a lot of risks and can be affected by events in the region.
Institute revealed that oil prices could see further decline, if the start lifting sanctions on Iranian oil exports as of the end of June, and if the recovery of Libyan oil production significantly.
The IIF is a global enterprise with more than 470 financial institution, and the task is in the financial industry and prudent management of the risks of support, and includes in its membership the world's central banks and major international banks, insurance companies, pension funds, asset managers and sovereign wealth funds.
The Institute is expected that exports of oil-exporting countries in the Middle East down $ 300 billion in 2015. For the Gulf states, surpluses bundled current account would decline from $ 266 billion in 2014 to about $ 40 billion in 2015, and is on course to record a surplus in budget of 4.6% of GDP to a deficit of 7.4%, and is funded by resorting to foreign assets (official reserves as well as sovereign wealth funds), and resorting to borrowing Her record low of debt.
The report pointed out that many of the oil-exporting countries in the region, especially from outside the Gulf states have not been able to accumulate substantial resources from reserves or sovereign wealth funds, and thus face pressure on the budget. Oil sales revenue and make up more than 70% of government revenue in many countries of the region.
And published agency Anatolia reported yesterday, citing the institute, expected to drop current account surpluses Synod of the oil-exporting countries in the Middle East from about 300 billion in 2014 to $ 25 billion in 2015, and that the large surplus in the budget turns into a large deficit.
It has a current account (net exports of goods, services, net income, and net current transfers).
In mid-January, the International Monetary Fund forecast to reach the oil-exporting Middle East countries losses and North Africa in 2015 to $ 390 billion, about $ 300 billion, or 21 percentage points of GDP in the Gulf Cooperation Council (GCC), and about $ 90 billion, or 10 percentage points of GDP in countries outside the Gulf Cooperation Council.
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