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World Bank report suggests oil prices to average at $65 for 2018

Updated : April 25, 2018 13:24:58 IST

The World Bank report for the commodity markets outlook for 2018 is bullish on the crude oil prices. The report forecasts that the prices will average at $65 per barrel in 2018 and 2019.

Last year prices averaged at $53 per barrel.

Aurobinda Prasad Gayan of Kotak Commodities said $ 65 per barrel seems to be a very strong average price.

The World Bank is quite bullish on the metal space as well, expecting the metal index to rise up by 9%.

The report suggests a 3% rise in the precious metal space. The interest rate scenario, geopolitical concerns and the weakness in US dollar are a couple of factors which could be supportive of that.

The agricultural commodities are expected to see a price rise of 2%. Stronger output levels globally will help the prices sustain, but strong demand from many countries is expected to take the agricultural commodities on the higher side.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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