The largest bank of Abu Dhabi considers that the price of oil could reach $ 20 per barrel this year. And it warns that the excess supply of raw materials in the market will continue until 2017.
The reference price for a barrel of oil West Texas Intermediate, the benchmark in the market US American, shall be between 25 and 45 dollars per barrel for the rest of the year, “although a brief spike towards the $ 20 is possible,” write analysts at National Bank of Abu Dhabi.
Abu Dhabi is the capital of the United Arab Emirates, who hold 6% of world reserves and belong to the Organization of Petroleum Exporting Countries (OPEC) since 1961.
according to the “Global Investment Outlook,” released this Sunday, February 21, the Moorish capital, prices of around $ 20 will stimulate increased demand. But the oversupply in the market will continue until 2017.
The forecast of lower oil prices follows another Goldman Sachs late last month, pointing to the same values, having been quite referenced in the analysis of the sector since then.
the oil in the WTI market, the reference to the United States, is trading around $ 30, more or less the same the oil of Brent, which is a reference to the European markets.