The World Bank has published its long-term Commodity Market Outlook scuttling hopes for oil price increase.
According to the WB, in 2015 nominal prices will not exceed $57.8 per barrel and in 2016 – $61.2. Then prices will be changed in the following way: $63.7 in 2017, $66.3 in 2018, $69.1 in 2019 and $71.9 in 2020. In 2025 oil prices are expected to reach the level of $88.3 per barrel.
For “permanent prices” (price without inflation against 2010) WB forecasts $54.4 per barrel in 2015 and $56.6 in 2016. Later prices will be changed in the following way: $58.2 in 2017, $59.7 in 2018, $61.2 in 2019 and $62.7 in 2020 году. In 2025 WB expects global oil prices to reach the level of $70.8 per barrel.
