Noah Cruz and Ruben Migueles | El Universal
Wednesday January 7, 2015
class=”clearLeft” <- googleon: all ->
@ eluniversal portfolio. com.mx
International prices for Oil yesterday continued to trend downward. The price of a barrel of Mexican crude stood at $ 39.94, the lowest level recorded since the first quarter of 2009.
Meanwhile, the Brent , reduced cost 2.01 dollars and sold at $ 51.10 per barrel, while US West Texas Intermediate (WTI) was offered at $ 47.93 , down $ 2.47 compared to its previous quote.
Given this behavior of the oil market, few analysts and oil tankers are betting high price recovery this year, but expect a slight upturn probably 2016.
Experts predict that oil prices range between 65 and $ 68 per barrel at least this year, reflecting a slight improvement after collapsing to 48%.
The director of the Instituto Mexicano del Petroleo , Vinicio Suro Pérez, provides a slight rise in oil prices over the next two years, “though hardly at levels of 100 or $ 120 a barrel.”
In an interview with THE UNIVERSAL , the manager of the research institute of the country’s most important energy sector, warns that this “is not new to the industry. For 50 years we have witnessed the evolution of crude oil prices are due to different factors and there are cycle high and low prices “.
The Grupo Financiero Banamex estimated the price of Mexican oil market will reach $ 53 per barrel on average for most of 2015 and about $ 60 from the fourth quarter and during the 2016.
For budgetary purposes, the government reduced the price of Mexican crude exports 81 to $ 79 by 2015, a level that has remained to date.
Just last December 9, the Department of Energy United States through US Energy Information Administration (EIA, for its acronym in English) estimated that oil will reach an average of $ 68 per barrel in 2015.
Despite the complicated picture, Suro Perez said he does not expect “prices above $ 100 and not expect a Brent crude price of $ 120 between 2015 and 2016, but prices will be sufficient for this industry to actively” .
Last November, the bank JPMorgan Chase & amp; Co cut its forecast for 2015 Brent price to $ 82 a barrel, citing pressure from a high bid in the Atlantic Basin and an inability of the OPEC ( OPEC) to contain production and balance the market.
The bank also lowered its projected for Brent in 2016 to $ 87.80 per barrel from a previous estimate of $ 120.
With the revision of forecasts for Brent, JPMorgan became the most pessimistic among the big banks like Goldman Sachs, Morgan Stanley, Barclays, among others.
<- googleoff: all -> class=”clear”
No comments:
Post a Comment