By Ahmed Awad
Kuwait – Mubasher Exclusive: Paul Horsnell, oil analyst and head of commodities at Standard Chartered, expected average oil prices to reach $68 per barrel in the first half of 2015. He added that oil prices will remain below $60 in early 2015.
Horsnell told Mubasher by email that Brent prices will rise to $85 per barrel at the end of 2015.
The expected decline of oil prices below the required level would impact oil supply from non-OPEC countries, so it may weigh on the global market, the analyst said. Oil prices have plunged by around 40% to below $60 a barrel, and OPEC has recently decided not to cut its output.
Translated by Abdul Maguid Aboshahla
Photo Credit: Arabianeye-Reuters
Kuwait – Mubasher Exclusive: Paul Horsnell, oil analyst and head of commodities at Standard Chartered, expected average oil prices to reach $68 per barrel in the first half of 2015. He added that oil prices will remain below $60 in early 2015.
Horsnell told Mubasher by email that Brent prices will rise to $85 per barrel at the end of 2015.
The expected decline of oil prices below the required level would impact oil supply from non-OPEC countries, so it may weigh on the global market, the analyst said. Oil prices have plunged by around 40% to below $60 a barrel, and OPEC has recently decided not to cut its output.
Translated by Abdul Maguid Aboshahla
Photo Credit: Arabianeye-Reuters
Source:
Mubasher Exclusive