The annual average price of Brent and WTI this year will be $33 per barrel – Moody’s

Almaty. February 16. Silkroadnews - The average annual price for Brent and WTI brands in 2016 will make $33 per barrel, Moody’s Investors Service report said.
“According to our estimates, in 2016 the average price for Brent and WTI brands will make $33 per barrel. We have reduced our previous forecast for Brent crude oil by $10 per barrel and WTI price by $7. For 2017 and 2018 we expect the price for both crude oil bases to raise by $5 per barrel on average,” - the rating agency informs.
As noted, in January 2016 the oil prices fell to $30 per barrel. At the same time within the framework of energy markets’ ongoing evaluation on January 21, 2016, Moody’s sharply lowered its forecast for oil prices taking into account the continuing oversupply of oil and weak growth of demand for it at the global markets.
“We do not expect significant changes in oil prices in 2016 compared to the indicators at the beginning of 2016, which values in January reached the lowest value for many years’ period,” - the message underlines.