Wood Mackenzie: Oil prices to reach $60 per barrel by end of 2017

MOSCOW, Apr 11 (PRIME) -- Oil prices can reach U.S. $60 per barrel by the end of 2017, Stewart Williams, an analyst at research company Wood Mackenzie, said at a conference on Monday, as cited by Bloomberg.

By the end of 2016, global oil reserves will slightly fall from the current level and the decrease will become stronger in July–September 2017, which will support the prices, Williams said.

Decrease of investments in production facilities may also trigger a price increase, while a possible agreement between OPEC and non-OPEC states to freeze the output will have no influence on the market, he said.

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