55-65 USD per barrel range. Looking longer-term, I dont see much scope for significantly higher prices. On Thursday, the.S. It predicts additional production of 4 million barrels each day, with the discovery and harnessing of new oil fields. There may be occasional spikes due to supply disruptions but they would be temporary. However the risks are to the downside given whats happening in the other commodity markets and the macro markets more broadly.
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By, helen Rush - 1 hour ago, crude oil prices continue to recover gradually, with Brent has settled above the 67 figure on Friday. In principle, the higher the fuel taxes, the smaller the change in fuel prices for a given change in oil prices. GDP Growth,.04.S. Note that every 10 percent change in oil prices leads to about 3 percent change in fuel prices in Europe and about 7 percent change in the.S. Goldmans long-term forecast for crude is at 50 a barrel, he said. No Confidence In UK PM May? That is also the year when Germany and India want to switch entirely to electric cars.
For example, as the ruble depreciated, gasoline prices in Russia increased in 2014 despite the drop in oil prices. Crude oil prices and exchange rates explain about 90 percent of the fuel price changes in countries with free fuel markets.