World Bank lowers forecasts of oil prices

The World Bank (WB) has revised its forecasts regarding oil prices for the worse, the quarterly report of the Commodity Markets Outlook reports.

According to experts, a basket of varieties of Brent, Dubai and WTI with equal weight in 2016 will be sold for around $37 a barrel rather than $52 per barrel, as had been expected in October. The change in the forecast is affected by several factors, including a more rapid restoration of oil exports by Iran after the lifting of sanctions, Interfax reports.