[China Epoxy Network (China Epoxy Industry Online) January 28, 2010: The World Bank predicts that the average oil price this year is US$76 per barrel.
The World Bank released its latest report on January 25, 2010, stating that as the impact of fiscal stimulus measures gradually weakened, the global economic recovery process will also slow down in the second half of this year.
In this still weak environment, oil prices are expected to remain generally stable, averaging about US$76 per barrel.
As a major oil producing area, the Middle East and North Africa region has suffered relatively less impact from the financial crisis than other regions.
According to experts from the China Epoxy Industry Association ( the oil-importing developing countries grew at a rate of 4.
7% in 2009, while the oil-exporting developing countries’ GDP growth rate dropped to 1.
6%, reflecting Its production has been suppressed and oil revenues have decreased.
The head of the Goldman Sachs Commodity Research Department also said a few days ago that considering the sluggish demand in developed countries, the outlook for oil prices this year is still bleak.
It is too early to discuss the oil price reaching US$100 per barrel.
It is predicted that global oil demand will not return to the pre-recession level before the third quarter.
Also affected by demand, the World Bank predicts that the average annual increase in prices of other commodities in 2010 and 2011 is expected to be only 3%.
(Our reporter Huan Yang)
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