Experts describe prospects for oil prices in 2015

Shell Oil ex-President John Hofmeister said that oil prices at the end of 2015 could rise to $80-100 per barrel and the demand will exceed the supply, as in 2009. IMF experts predict that the average price for oil would total $56.73 per barrel in 2015 and $63.88 in 2016. The average price in 2014 was $96.26 per barrel. The IMF forecasts an economic fall of 3% in Russia in 2015 and 1% in 2016. 

Gennady Shmal, the president of the Union of Oil and Gas Producers of Russia, a member of the Council for Information and Cooperation and Fuel and Energy Enterprises, predicts a price of $80 per barrel due to the costs of oil extraction on sea and ocean shelves, deep-water shelves. He reminded that the price had amounted to over $100 a barrel in the past 5 years. 

The expert doubts that the Russian economy would have any falls because there had been times when oil had been worth even less, for example less than $20 per barrel in 2002. Some investment projects may be scrapped, he added. Shmal assumes that Russia has good potential to develop agriculture, the lumber industry, refinement of oil and gas. He noted that the volume of chemical products produced in China was 1.2 trillion, over 500 billion in the U.S., about 50 billion in Russia. 

Sberbank CIB analyst Valery Nesterov predicts that Brent oil prices would most likely total $60-70, it will stay low in the first half of 2015, dropping to $30-40.

The LUKOIL authorities predict a drop to $25 per barrel, according to Valery Nesterov. In his words, optimists expected $90-100. Nesterov said that oil extraction could slightly drop in Western Siberia, Volga-Ural Oil and Gas Province. He added that U.S. oil companies were reducing capitalization, firing staff. As an example, Schlumberger fired 9,000 workers all over the world, the analyst reminds.

Shell Oil ex-President John Hofmeister said that oil prices at the end of 2015 could rise to $80-100 per barrel and the demand will exceed the offer, as in 2009. IMF experts predicts that the average price for oil would total $56.73 per barrel in 2015 and $63.88 in 2016. The average price in 2014 was $96.26 per barrel. The IMF forecasts an economic fall of 3% in Russia in 2015 and 1% in 2016.Gennady Shmal, the president of the Union of Oil and Gas Producers of Russia, a member of the Council for Information and Cooperation and Fuel and Energy Enterprises, predicts  price of $80 per barrel due to the costs of oil extraction on sea and ocean shelves, deep-water shelves. He reminded that the price had totaled over $100 in the past 5 years.The expert doubts that the Russian economy would have any falls because there had been times when oil had been worth even less, for example less than $20 per barrel in 2002. Some investment projects may be scrapped, he added.Shmal assumes that Russia has good potential to develop agriculture, lumber industry, refinement of oil and gas. He noted that the volume of chemical products produced in China was 1.2 trillion, over 500 billion in the U.S., about 50 billion in Russia.Sberbank CIB analyst Valery Nesterov predicts that Brent oil prices would most likely total $60-70, it will stay low in the first half of 2015, dropping to $30-40.LUKOIL authorities predicts a drop to $25 per barrel, according to Valery Nesterov. In his words, optimists expected $90-100. Nesterov said that oil extraction could slightly drop in West Siberia, Volga-Ural Oil and Gas Province. He added that U.S. oil companies were reducing capitalization, firing staff. As an example, Schlumberger fired 9,000 workers all over the world, the analyst remi