EBRD sees oil price at $75–80/bbl in 2018–2019

LONDON, May 10 (PRIME) -- The European Bank for Reconstruction and Development (EBRD) has raised its forecast for the oil price in 2018–2019 to U.S. $75–80 per barrel amid the U.S. withdrawing from a nuclear deal with Iran.

EBRD Chief Economist Sergei Guriyev told PRIME that the oil price will remain around $70 per barrel in 2018, while in 2019, the prices will be higher than expected earlier, but will start to decrease later.

“After the announcement by (U.S. President Donald) Trump, we will have to raise (the forecast) by $5–10. But then it will decrease to $55,” he said.

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