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21.01.2000 00:00

The world oil prices have reached the record level for the last 9 years

/PRIME TASS, Jan.21, 00/ - Bloomberg informs world oil prices have reached the record level for the last 9 years.

The oil March futures prices have reached in London $26.9 per barrel, in New York - $28.76 per barrel. Within the last 2 weeks London prices have grown by 19%.

The growth is connected with a fall of temperature in USA on a background of reduction of the oil stocks to the lowest for the last 3 years level at the preservation of oil production OPEC limitations. A fall of temperature in USA has sharply increased black oil demand. The February black oil future prices have risen in New York by 8% to 86.46 cents for gallon /1 gallon = 4.546 l/ - the record for the last 9 years level.

However the experts expect recession in the oil prices in 2000 and believe that the annual average price will make $21.5 for barrel against of $18.03 in 1999.

The market participants watch OPEC countries behavior, which now intend to save the limitations.