Jadwa Investment maintains its oil price forecast until 2019 and 2020

Jadwa Investment maintained its world oil price forecast for 2019 and 2020 unchanged at $ 66 per barrel and $ 68 per barrel, respectively.

The company on Sunday justified in a research note its forecast of oil prices from a number of non-economic factors that directly affect the outlook for oil, since the average price of Brent crude since the beginning of the year. 39, year and up to now 66 dollars a barrel.

Jadwa pointed out that the forecast of oil prices for the years 2019 and 2020 still overshadowed trade tensions. In a recent report, OPEC has revealed modest growth in world oil demand in 2020 and a growing demand of 1.14 million barrels a day, the same level of growth forecast for 2019 as a whole.

The Organization of the Petroleum Exporting Countries (OPEC) now expects a slowdown in the growth of oil demand from the United States, China and India, on an annual basis in 2020, because of trade tensions, she says.

These countries are expected to contribute about 67% to the growth of total oil demand in 2019, then to fall to 56% by 2020.

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