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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


S & P raises its forecast for Brent crude to $ 55 a barrel

rocky
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  • Post n°1

S & P raises its forecast for Brent crude to $ 55 a barrel Empty S & P raises its forecast for Brent crude to $ 55 a barrel

Post by rocky Thu 30 Nov 2017, 2:09 am

[size=30]S & P raises its forecast for Brent crude to $ 55 a barrel[/size]
30/11/2017 10:55 | Number of readings: 5
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S & P raises its forecast for Brent crude to $ 55 a barrel Thumbnail.php?file=thumbs_b_c_73020bf4b124750e46f08cd069017a48_570401552
[rtl]Trend Press / Agencies[/rtl]
 
[rtl]Standard & Poor's (S & P), the global credit rating agency, on Thursday raised its forecast for Brent crude to $ 55 a barrel in 2018, up from 53 in earlier forecasts .[/rtl]
[rtl]The agency said in a report today that it kept its forecast for Texas Intermediate crude, unchanged at $ 50 a barrel .[/rtl]
[rtl]The report noted that the gap between Brent crude and Texas Intermediate crude widened to $ 6 a barrel recently, believing that the difference would probably fall in 2018 .[/rtl]
[rtl]"Our long-term price projections are often based on fundamental analysis, including marginal cost estimates for oil and gas production, as well as fundamentals of supply and demand, " the agency said.[/rtl]
[rtl]Standard & Poor's believes that the recent rise in oil prices is the result of the Organization of Petroleum Exporting Countries (OPEC) continuing to cut production, disrupt supply, temporarily slow production, and a positive public sentiment about demand .[/rtl]
[rtl]The 173rd ministerial meeting of the OPEC member states is due to be held on Thursday, followed by the third ministerial meeting of FAO producers and their independent non-members .[/rtl]
[rtl]OPEC members and independent producers led by Russia began in early 2017 to cut production by 1.8 million barrels per day (bpd) for six months. The agreement was extended in May for another 9 months ending in March 2018 in an attempt to restore stability to the oil markets .[/rtl]
[rtl]The report pointed to a drop in shipments from northern Iraq in October last year, and the decline in production in many other regions also, and expected to address the reasons that led to this imbalance in supplies in the coming months .[/rtl]
[rtl]The report believes that continued growth in production could slightly exceed consumption growth in 2018 .[/rtl]

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