The news, quite alarming, confirms weaker-than-expected global growth and increased production in non-OPEC countries. There is talk of bigger production than expected by the United States of America. As a result, WB resolutely decided to lower its current oil price forecast this year.
The barrel is expected to reach an average of sixty-six dollars in 2019 and sixty-five in 2020. However, public policies will continue to have some impact on the prospects for this sector. "A number of decisions, including OPEC and its partners, on further reduction of production, compliance with the latest sanctions decisions against Iran and the forthcoming change in the Maritime Transport Regulation may reverse these forecasts"An analysis by Ayhan Koze, director of the prospective study group.
Worldwide, the countries exporting raw materials will have to cope with an increasingly difficult global environment. Indeed, time is always appropriate for the gradual opening of economies to better withstand external shocks. " Exporting countries will have to adapt to decreasing commodity revenues by diversifying their economies, while importing countries will benefit from lower prices to increase their investment. " says Jila Pazarbasioglu, vice-president of the World Bank for the Pole, Finance and Institutions for Fair Growth. In summary, these mixed WB forecasts still reveal serious prospects for exporting countries and importers.