US banks expect the rise in oil prices to $ 47 a barrel after the freezing of production
He predicted the bank “of America Merrill Lynch,” The price of oil up to a threshold of $ 47 a barrel in the event of the implementation of the freezing of production and raise fuel prices agreement.
The bank said in a report today, said that “freezing the Organization of the Petroleum Exporting Countries, OPEC production levels in addition to a reasonable increase in the retail prices of fuel for gasoline is expected to help the high price of oil back to $ 47 a barrel by next June.
The report added that” is expected to help freeze OPEC production level market to find the bottom of the drop, noting that “OPEC agreement on freezing production is an important step to stabilize oil prices or even global markets.”
He added, “in the face of rising domestic demand in Saudi Arabia rose 450 thousand bpd from winter to summer, exports may drop by a deadline of next July. ”
Article Link
