Oil forecast between $60 and $70 raises expectations

Estimates suggest that by the end of 2017 oil barrel prices may reach heights between $60 and $70 dollars, as reported earlier by Offshore Panorama. The forecast has created positive expectations of industry development, especially between the producer countries and companies related directly or indirectly to oil activity.

The harbinger comes driven by the formalization of the agreement of the Organization of petroleum exporting countries (Opec), held on 30 November 2016. The cartel, which also had support from some countries that are not part of the Organization, has agreed to reduce production by 3,200,000 bd, on the background of the high prices of barrels.

Since the beginning of 2017, the reduction in production has resulted in the recovery of oil in the world, that in this first month can border the $55 dollars a barrel, while in January 2016 reached rock bottom price $25.

There are still quotes that this year the cost of oil increase 20%, while the forecast for commodities in General to rise 8%. What, beyond a shadow of a doubt, is a positive point also to the GDP growth expectation of producing countries.

In the case of Brazil, the increase in the price per barrel provides a better chance of success in the pre-salt and post-salt auctions in addition to warm up the labor market by creating new jobs, as well as benefit the municipalities and oil-producing States with the collection of royalties. The State of Rio de Janeiro, for example, you will get with this value a lot better than the percentage raised in the year 2016. This way, if carried out, the "black gold" can approach a bit more of the glorious times of recovery.