The European Commission has lowered the forecast for oil prices in the next two years.
As reported in the spring forecast, the EC proceeds from the fact that in 2017 the Brent brand will cost on average $ 55.5 per barrel and next year - $ 55.9 per barrel. This is 1.6% lower than the estimates voiced in the February report.
The European Commission is also expected to restore prices for other types of raw materials this year, noting that the preservation of this trend in 2018 is unlikely.

On Wednesday, black gold showed strong growth, Brent overcame $ 50 a barrel after the release of data from the US Energy Ministry, indicating a more significant than expected reduction in inventories.
Following the auction on May 10, the value of the July contract for Brent crude on the ICE Futures exchange in London soared by $ 1.49 (3.06%) to $ 50.22 per barrel.
June futures for WTI on the New York Mercantile Exchange NYMEX jumped $ 1.45 (3.16%) - to $ 47.33 a barrel.
Today, oil continues to add to the price.
July futures for Brent crude on the London Stock Exchange increased by 24 cents (0.48%) to $ 50.46 per barrel.
Quotes of the June contract for oil WTI at the same time rose by 25 cents (0.53%) - up to $ 47.58 per barrel.
The jump in oil prices on Wednesday was the highest since December 1, 2016, the day that followed the OPEC countries' agreement to cut oil production, according to FactSet.
Data of the US Energy Ministry, published the day before, indicated a decrease in oil reserves in the country by 5.2 million barrels last week, the fastest rates this year. Analysts polled by S & P Global Platts, on average, predicted a reduction in stocks by only 1.8 million barrels.
Oil production in the US last week increased by 21 thousand barrels per day (b / d) - up to 9.314 million b / d.

In today's Asian trading, the US dollar is stable against the euro and the pound sterling, becoming cheaper against the yen.
The euro was worth $ 1, 0878 compared to $ 1, 0868 at the close of the previous session.
The forecast for the dollar / yen pair was lowered by analysts of Goldman Sachs to 118 yen from the expected 125 yen earlier.
Coupled with the Japanese national currency, the dollar fell to 114.14 yen in comparison with 114.28 yen the day before. For the euro, 124.16 yens were given against 124.20 yen on Wednesday.
The pound sterling is stable against the US dollar in anticipation of the meeting of the Bank of England, the rate was $ 1.2948 compared with $ 1.2938 the day before.

Kazakhstan's GDP in January-April 2017 increased by 3.7%, said today the Minister of National Economy Timur Suleimenov on the sidelines of the plenary session of the Senate.
"According to statistics, GDP growth for 4 months of this year was 3.7%, which is quite a positive news, because GDP growth was 3% by the end of the (first) quarter," the minister said.
"The mining and manufacturing industries have shown good dynamics, we also have good dynamics in transport and logistics, things are good in agriculture, so, on the whole, there are quite positive figures," T. Suleimenov added.
The government forecasts GDP growth in Kazakhstan in 2017 by 2.5%. In 2016, the country's GDP increased by 1%.