This year will be a year of low oil prices, but in 2016 the world price of “black gold” will rise slightly, according to a World Bank report.
The WB experts say an excess of supply over demand of oil and the weakening of geopolitical tension in the world, leading to the consolidation of low oil prices. It will challenge largest oil exporter and will have a significant impact on the economy, focused on the import of raw materials, the report said.
However, the World Bank experts believe that low oil prices will have a beneficial impact on the world economy, in particular, provide an additional increase in world GDP in 0,5%.
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