Oil prices will remain high in 2013, while natural gas prices will remain low but will continue their slow recovery, Moody's Investors Service said in a report on Tuesday.

However, the slowing economic growth in China poses a significant risk to oil prices in the coming year, the report said.

"China accounts for a large share of the growth in demand for oil, so slower-than-expected growth there could drive oil prices much lower than our assumptions," said Steven Wood, managing director and co-author of the report.

Prices for natural gas liquids will continue to fall in 2013, Moody's said.

Lower natural gas liquids prices have hurt the midstream sector, Wood said, and companies focused on gathering and processing, known as G&P, will continue to be under pressure in the coming year.