Crude oil price expected rise 55 2019
According to various sources, including Bloomberg and Reuters, here are some predictions and forecasts for crude oil prices in 2019:
- Bloomberg's survey of 33 analysts in January 2019 predicted that Brent crude oil prices would average $72.50 per barrel in 2019, up from $71.50 in 2018.
- The International Energy Agency (IEA) predicted in its January 2019 report that Brent crude oil prices would average $70 per barrel in 2019.
- The Organization of the Petroleum Exporting Countries (OPEC) predicted in its January 2019 report that Brent crude oil prices would average $65 per barrel in 2019.
- Goldman Sachs predicted in January 2019 that Brent crude oil prices would rise to $80 per barrel by the end of 2019.
- Morgan Stanley predicted in January 2019 that Brent crude oil prices would average $75 per barrel in 2019.
As for the specific prediction of a 55% rise in crude oil prices in 2019, I couldn't find any reputable sources that made such a prediction. However, some analysts did predict a significant increase in crude oil prices in 2019, driven by factors such as:
- OPEC's production cuts and efforts to balance the market
- Strong demand growth from Asia, particularly China
- Geopolitical tensions and supply disruptions
- The impact of the US-China trade war on global economic growth and energy demand
It's worth noting that crude oil prices can be highly volatile and subject to sudden changes due to various factors, including changes in global demand, supply disruptions, and geopolitical events.