According to Goldman Sachs analysts, in 2017 the oil price won’t be able to rise above $55 per barrel, Rambler News Service reports.
The experts believe that if oil climbs above $50 per barrel, the US will expand its shale oil production.
In 2017 the oil market is expected to be oversupplied as Libya and Nigeria will return to it, and the US shale output is likely to be increased. Besides, large-scale projects which were frozen last year after prices had slumped are due to be launched.
On October 5, the oil price rose above $52 per barrel on the Intercon Exchange amid the US report about a drop in inventories.
A day earlier, the International Monetary Fund improved its outlook on oil prices significantly. For 2016 the forecast was raised by $7 to $42.96 per barrel, and for 2017 it was lifted by almost $9 to $50.64 per barrel. The medium-term outlook was retained at $51 per barrel.
On September 28, the OPEC countries stroke a deal to freeze output at 32.5 mln barrels per day which gave a boost to oil prices.
