The International Monetary Fund (IMF) projected that oil prices remain low, which will provide a “boost” to the global economy of around 0.3% to 0.7% in 2015. The price of a barrel of oil, quoted in New York, closed Monday at $ us 55.26.
“The futures markets suggest that oil prices will rise but remain below their levels in recent years, “states a publication via blog IMF signed, among others, by the head of this international organization, economist Olivier Blanchard. The document also states that there is a high degree of “uncertainty” surrounding prices, reported the news agency AFP.
Trend. The price of crude oil lost about 50% of its value since mid-June in a context of abundant supply, a stronger dollar and weak demand, with the backdrop of a global economy that lost tone.
“The pressures on currencies were confined so far to some exporting countries like Russia, Nigeria and Venezuela,” the international organization, who called for greater “vigilance”.
The price of a barrel of crude oil traded in New York, the reference in the country, fell sharply on Monday and reached $ us 55.26. The measure was taken after the declarations of the leaders of the Organization of Petroleum Exporting Countries (OPEC), which confirmed that there will be medium-term changes in production volumes.
The Minister of Economy and Public Finance, Luis Arce, confirmed yesterday that the decline in oil prices “will pass, will have its effect on some income (for the country) but it will not be something substantial and detrimental to the employers and the economy. “
The minister reiterated that it is the fourth consecutive year low recorded in the price of oil and it was recorded in 2011, 2012 and 2013. Before that external scenario, Arce said, Productive and Community Social Economic Model that drives domestic demand and redistributive policies are applied.
Effects of declining crude
Position
On Friday, President Evo Morales said that low oil prices “will splash into something” to the country, so it is necessary to be prepared. He said the issue was discussed in the cabinet as well as social movements. The president also called on the Bolivian ambassador to organize an economic commission to track the fluctuation of the external price of crude to address this decline, from Bolivia and the region.
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