The IMF has lowered the forecast on oil prices

МВФ понизил прогноз цен на нефть

The price of oil falls because of U.S. stocks.

The international monetary Fund lowered its forecast for global oil prices for 2017 and 2018. This is stated in the July review of the Fund in the global economy World Economic Outlook.

Compared with the previous forecast, the IMF analysts expect oil is cheaper than three dollars – is 51.9 and 52 dollars a barrel.

Oil prices are falling because of large stocks of crude oil in the United States and the increase in supply, explain the experts of the Fund.

“Headline inflation has also generally declined with the weakening of the impact of rising commodity prices that occurred in the second half of 2016, still far below the targets of Central banks in most advanced economies,” explained the IMF.

As a result, the estimated price based on futures markets (as of June 1, 2017) amounts to 51.9 per U.S. dollar in 2017 and 52 per U.S. dollar in 2018.

In the April forecast, the IMF, by contrast, raised its forecast of world oil prices in 2017 by about four dollars – to of 55.23 per barrel.

Note that by the end of 2016 amid falling prices have fallen foreign exchange reserves of the countries-exporters of oil. Among the most affected States was Russia, foreign exchange reserves which fell by 35 percent.

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