VB: Oil price will fall by $ 10

The World Bank is waiting for a drop in oil prices by $ 10 after lifting sanctions from Iran. According to RBC, such a forecast is contained in the WB report. According to experts, the flow of oil on the world market will increase by about a million barrels per day.

According to experts, the flow of oil on the market will have a significant negative impact on the budget revenues of the largest oil exporting countries. In particular, experts of the VB experts estimate at $ 40 billion per year, and Libyan’s losses, at 5 billion, estimates the reduction in Saudi Arabia revenue.

Iran, according to the WB, will increase its income, as it will benefit from increasing oil exports from increasing the volume of oil exports than it will lose from a decrease in oil prices.

WB experts also expect that after lifting the sanctions Iran will be able to significantly increase the influx of foreign direct investment directed to the country's economy. Already in 2016-2017, they can amount to 3-3.2 billion dollars, which is about twice as much as the current level. At the same time, the Iranian authorities themselves evaluate the needs of the country's oil and gas sector in investment until 2020 at 130-145 billion dollars.

The day before, the Minister of Energy of Algeria Salah Habri said that OPEC countries are ready to hold an extraordinary meeting due to a sharp drop in prices. The oil supply has been exceeding demand for a year and a half. The drop in oil prices is associated with "excess oil supplies, a decrease in demand in China and an Iranian agreement that had its influence on the market," said the Algerian Minister.

At the same time, four OPEC representatives, on anonymity, told Bloomberg that "the Gulf countries will probably still be opponents of such a meeting."