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The World Bank Expects That Oil Prices Will Rise To $ 56 In 2018
Nov 03, 2017

According to the Gulf Times reported on October 30th , the World Bank recently released forecasts that the world oil price will rise to 56 U.S. dollars per barrel in 2018 due to the combination of rising demand, production cuts and inventory reduction and so on. Prices of energy supplies such as oil, gas and coal are down 28% this year, but will rise 4% next year.

Experts say the key factors determining the price of oil are whether the oil-producing nations will keep cutting output and whether the production of shale gas in the United States has increased. And China will play an important role in determining global metal prices.

In addition, natural gas prices are expected to grow 3% next year, while coal prices may decline. The biggest factor affecting the price of coal is China's environmental policy. The rise in the interest rate of the U.S. dollar will result in the gold price reduction next year.

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