Oil prices rise to $ 60 per barrel - the experts

Oil recovers in 2009 to $ 60 per barrel as a result of record production cuts by OPEC countries. This opinion was expressed analysts. They predict a rise in oil prices by 50% compared to the value at closing of trading on Monday (40.02 dollars per barrel). Production cuts by OPEC will make the United States, the world's largest energy consumers increasingly spend their stocks, which rose this year by 10% because of weakening demand for oil for the first time since 1983. "Once the crisis is over, we find that the market is willing to pay more than $ 40 a barrel," - says the managing director of Energy Security Analysis Sarah Emerson. Many analysts are too slow to realize that demand reduction has already occurred, and by next summer the market situation should change, the expert added. The average oil price this year is $ 100 per barrel, which is the highest price since oil trading on the New York Mercantile Exchange in 1983. In the first six months oil prices have steadily increased and reached a peak (147.27 dollars per barrel) in July, and then oil started to become cheaper with metals, grains and other commodities on the background of the credit crunch. Cheap oil revenues and undermines the difficult position of exporting countries. Russian companies have to reduce investment in the next year, with production levels will remain unchanged. " Budget deficit of Saudi Arabia's largest oil exporter in the world, will be 65 billion riyals (17 billion dollars). Europe's largest oil company Royal Dutch Shell Plc announced the postponement of the project for the extraction of energy from oil sands in the Athabasca Basin in Canada. Also suspended the project ugleperegonnogo Shell plant in Australia. Experts predict that the price of oil will rise to the IV quarter of 2009 to $ 70 per barrel since the situation with demand will inevitably improve and reduce OPEC have much influence the desired effect. As expected, growth in the United States will recover by the second half of 2009, and it will be a powerful stimulus energy consumption, reports "Interfax" referring to agency Bloomberg