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Crude’s 40% plunge in 5 years to save US$1.2B in 2015

Santo Domingo.- As an oil importing country Dominican Republic will benefit from declining world prices on crude and its derivatives, which have fallen 40% since June, the lowest during the last five years, which will lead to savings of more than US$1.2 billion in 2015.

The figures for part of the Central Bank report released Thursday on Pagina Abierta (open page) at bancentral.gov.do “The International Monetary Fund again revised its forecast an average price of oil at US$72 per barrel, which increases the economy’s potential for saving US$1.2 billion for 2015.”

Central banker Hector Valdez Albizu in October said the IMF forecast of US$84 per barrel in 2015 will mean savings of around US$600 million.

Source: DT

Category: DR News |

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Last updated December 8, 2016 at 12:39 AM
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