Investment company expects oil prices remain below $ 37.4 in 2016

[ltr]Investment company expects oil prices remain below $ 37.4 in 2016[/ltr]

 Since 02.29.2016 at 08:36 (Baghdad time)
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[ltr]Follow-up - the balance of News[/ltr]
[ltr]Forecast Asia Capital Investment Company, oil prices remain below $ 37.4 a barrel in 2016, estimated by the US Energy Information Administration.[/ltr]
[ltr]The Asia Capital, in a recent research note issued by its headquarters in Kuwait, "there is no conclusive evidence that the supply gap will shrink this year, and we expect that oil prices will remain lower than the US Department of Energy estimates."[/ltr]
[ltr]Expects US Energy Information Administration, that "an average price of $ 37.4 a barrel of oil in 2016, while will reach $ 43 by December / December."[/ltr]
[ltr]Abraham said Failkawi, economic adviser at the Center for Advanced Studies in Kuwait, "We believe that oil prices will remain low for a longer period than expected in light of the continued global supply glut of crude."[/ltr]
[ltr]The ACR memo, "with regard to the oil market re-balancing process, it will be slow, and it must improve the economic conditions so strongly rising demand."[/ltr]
[ltr]Asia Capital expects to carry low oil prices this year, strong producing countries and oil consuming both economic effects, noting that in the producing countries as states cooperation, fiscal balances deteriorated to adopt more severe measures will lead.[/ltr]
[ltr]He Failkawi, of Anatolia, "There is no doubt that the continued decline in oil will affect negatively on producing countries, which is clearly evident in the last period, especially with the announcement of major countries a deficit in its budget."[/ltr]
[ltr]And causing a sharp drop in crude oil prices, in the registration of the Persian Gulf oil-producing countries, a deficit in their budgets for the current year, Saudi Arabia was the oldest, with a deficit in the budget that in 2016, an estimated $ 87 billion, Kuwait $ 40 billion.[/ltr]
[ltr]According to IMF estimates, the oil-exporting countries in the Middle East and North Africa lost about $ 340 billion last year, from oil revenues due to lower prices.[/ltr]
[ltr]She explained ACR memorandum, that "the oil-consuming countries, you may feel more positive effects, the decline in oil prices, while entrenched power resulting from this supply chain mechanism decline."[/ltr]
[ltr]Fell crude oil prices, increased by 70% since mid - 2014, down from $ 120 a barrel to less than $ 30 in the month of January last, due to oversupply and limited demand. Ended 29/4 e[/ltr]


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