OPEC expects that average oil price culd increase up to $80.00 per barrel by 2020, reported Bloomberg agency.
In the mid-term perspective OPEC expects a small growth of oil demand, because of low prices. In the future OPEC forecasts that average oil price will grow by approximately $5.00 a year till 2020.
Accordin to the local analytical materials of OPEC, in 2017 extraction in the non-OPEC member-states will total 58.2 million barrels a day, down 1 million barrels against the earlier forecast.
OPEC document reads that the current low oil prices “have seriously affected cost of hard to extract oil, which is more sensitive to prices, than other types of oil.”
