OPEC: the cost of oil will grow by $5 per year

2028
altyn-orda.kz

Almaty. 14 April. 7kun.kz — According to the forecast of the Organization of the Petroleum Exporting Countries (OPEC), the cost of raw materials in 2040 may amount to $155.

Thus, the analysts of the organization believe that in 2021 the nominal price of a barrel of oil will reach $ 65. Such data are given in the forecast for oil prices in the world until 2040 (World Oil Outlook).

«We expect gradual improvement of market conditions, such prices are not forecasts or desirable levels of OPEC countries, but only represent assumptions,» the organization explained.

Analysts also raised the forecast for world demand by 1 million barrels in 2021 to 99.2 million barrels per day. This figure exceeds the indicator of 2015 by 6.2 million barrels. At the same time, the long-term forecast for demand in 2040 was reduced by 0.4 million barrels per day to 109.4 million barrels per day.

The cartel also increased the demand for oil in 2017 by 300 thousand barrels per day to 95.3 million barrels per day.

According to OPEC, the demand for raw materials in emerging economies will be about 2.1% per year. The growth rate in the OECD countries will be 0.1% per year, in general for Eurasia — 0.6%.

«The accelerated growth in the demand for energy from developing countries is due to the faster economic growth of these countries, as well as higher rates of population growth and urbanization,» the document explained.

Meanwhile, Brent crude oil was sold at $ 46.55 per barrel at 15:47 Astana time. Slight growth occurred against expectations of the outcome of the elections in the United States. Before that, the price per barrel of raw materials reached $ 45.

Earlier, Energy Minister Kanat Bozumbayev said that Kazakhstan plans are increased production. Prices began to fall after the meeting of the organization of oil-exporting countries with other oil-producing countries on October 28 in Vienna. At this meeting, the state did not come to an agreement on reducing production volumes. Brazil and Kazakhstan refused to reduce sales volumes.