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World Bank forecasts oil price above $100 at the world market in 2014-2015

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In 2014-2015 average oil price at the world market will not be below $100 per barrel, said analysts of the World Bank.

            “We expect that the latest tendencies remain at the oil market and forecast average oil price at $103 per barrel in 2014 and $100 per barrel in 2015,” reads the report about Russian economy released by the World Bank on Wednesday.

            According to the WB experts, in the long-term oil prices will go down, because volume of oil deliveries extracted in a non-traditional way and use of alternative types of fuel will grow.

            World Bank expects that in 2014 world oil demand will increase by 1.1 million barrels a day and reach 92.7 million barrels a day in 2014 and 94 million barrels a day in 2015.

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