[ad_1]
Dar es Salaam The price of oil could continue to rise in the future, after the US bank forecasts that world oil prices will remain high during this second half of the year , despite the increase in gross production.
Ewura) announced an increase in fuel prices for July this year, citing the increase in world price.
The US Morgan Stanley base was quoted as saying that the price of fuel could rise to $ 85 this year since Trump is targeting Iranian barrels. Morgan Stanley has raised its forecast for Brent prices from $ 7.50 to $ 85 per barrel for the second half of 2018. The bank expects the oil market to be under-supplied while US sanctions are more severe than expected. Angola falls more than expected
Increases in production from Saudi Arabia, Russia, the UAE and Kuwait will not be enough to balance the market, Morgan Stanley estimates. In 1965, officials of the Organization of Petroleum Exporting Countries and other major oil producers like Russia promised last month to increase total production of about 1% of the global supply of oil.
Venezuela, once a major producer, almost halved production to less than 1.4 million barrels a day as its economy cracked and international sanctions were imposed on the country
" Oil prices will rise more than expected in the second half of 2018, as the Trump administration aims to eliminate Iranian crude oil exports by November, "says Morgan Stanley
.
[ad_2]
Source link
