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Standard & Poor's Predicts That International Oil Prices Will Fall To $65/barrel In 2019
Sep 26, 2018

According to the Interfax news agency Almaty on September 18th, the international rating agency Standard & Poor's re-predicted oil prices in the next few years. S&P business manager Griaznov said at the S&P Global-2018 Almaty Annual Meeting that according to the latest S&P forecast, the international oil price was $65/barrel in 2019 and $60/barrel in 2020. The long-term forecast is $55/barrel. Griaznov believes that the current high oil prices are the result of a combination of OPEC production cuts, the Venezuelan and Mexican crisis, and global oil demand growth and so on. In addition, there are other factors affecting oil prices, such as the increase in US crude oil production and the slow growth rate of large oil production companies and so on.

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