(VOVworld) - The World Bank has lowered its 2015 forecast for crude oil prices to 52 USD per barrel and 51 USD per barrel in 2016.

The World Bank has lowered its 2015 forecast for crude oil prices to 52 USD per barrel (photo:enca.com)

The Bank experts said this was a result of slow global economic performance and high current oil inventories.
They expected that Iranian oil exports will rise up to 3.6 million barrel a day after the lifting of international sanctions.
The experts said they believed downside risks in world oil prices include higher-than-expected OPEC production and continuing falling costs along with improved productivity of the US shale oil industry.