Citigroup: Oil prices will be stable until 2022

Baku. 4 February. REPORT.AZ/ Oil prices will change around 40-65 USD/barrel in the world market till 2022.

Report informs, Forexpf.ru quotes Citigroup.

Experts says the forecast due to avoid oil prices decline to 40 USD/barrel after OPEC decision to lower global production and US shale producers deliver production to maximum at 65 USD/barrel. According to analysts, US shale oil producers can deliver effective results even at 50 USD/barrel level.

Notably, yesterday, US Baker Hughes reported that active oil rigs up by 17 or 3% and made 583, which will led to further increase in oil production. Notably, in 2016 summer, daily oil production in US made 8.6 mln, while at present shows 8.9 mln bbl/days.