International rating agency Fitch has reduced the forecast of average oil prices in 2016 from $45.00 to $35.00 per barrel, reads the agency’s report.
“The reduction has been caused by combination of several factors: increase in resources during mild winter, higher, than expected, oil production by OPEC in January and also an obvious fact that growth of world economy this year will be much slower, than it was forecast earlier,” reads the report.
