〜ものと思われる
it is thought that, it is believed (formal)
Plain form + ものと思われる / ものとみられる
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ものと思われる is an impersonal, cautious conclusion typical of news reports and official statements: 事故の原因は、ブレーキの故障によるものと思われる, "the accident is thought to have been caused by a brake failure".
It avoids saying who thinks so. The passive 思われる makes it sound objective, and もの adds formality. ものとみられる, "it is believed", is used the same way, especially in news.
Typical topics are causes, estimates of damage, forecasts and suspects' whereabouts.
Compare と思う (N4), "I think", which is personal. In conversation, you'd say みたいだ, らしい or と思う.
Examples
事故の原因は、ブレーキの故障によるものと思われる。
The accident is thought to have been caused by a brake failure.
犯人は、まだ近くにいるものと思われる。
The culprit is believed to still be in the area.
景気は今後、回復に向かうものと思われる。
The economy is expected to recover from now on.
被害は数億円に上るものと思われる。
The damage is thought to run to several hundred million yen.
火事は、たばこの火が原因だったものと思われる。
The fire is believed to have been caused by a cigarette.