The oil price is forecasted at $50–75 in 2019-2020, said Denis Perevezentsev, credits policy analyst of Moody’s at the annual conference held in Baku, ONA reports.
According to him, the middle-term price for WTI crude oil will set at $50-70, whilst Brent price will vary at $55-75 per barrel.
“Oil prices are restored due to geopolitical situation in Venezuela and Libya, as well as indefinite situation around oil import from Iran. We consider that the US can suspend licenses or significantly decrease import quotas in the near future. It can trigger us to review our forecast”, the analyst added.