Fitch: Low oil prices to remain for three years

• 30.04.2015, 8:53

World oil prices remain below the level of June 2014 in the next three years.

International rating agency Fitch mentions it in its forecast, LigaBusinessInform reports.

According to experts, barrel price of WTI will be fixed at $50 in 2015, $60 - in 2016, $75 - in 2017

"Fitch expects world oil prices will remain below the level of June 2014 in the next three years", the report of the rating agency says.

The drop in oil prices has led to a decrease of ratings of oil and gas companies in the first quarter this year. This sector has 28% of the total number of rating decrease for the period.

Further negative rating actions may be associated with the company's response to the low cost of energy, as well as weaker than expected recovery in prices. Fitch reports in the next 12 months rating increase will be limited.