One of the world's largest investment banks Goldman Sachs predicts fall in oil prices in the second and third quarter of 2020 to 30 dollars per barrel on the background of the collapse of the OPEC deal+ after Russia's refusal to cut production.
Futures for Brent crude on Monday fell by 26.5%, and quoted in the first half of the day at 33.3 percent. WTI is trading at about 29.8 per barrel, falling by 27.5%.
we will Remind, on March 6, OPEC and the member countries of OPEC+ failed to agree on cutting oil production. The end of the month there is an agreement on a reduction of 1.7 million barrels per day.
Saudi Arabia at the weekend reduced their official price sales in April for all grades of oil in all directions at 6-8 dollars per barrel and pledged to increase production to 10 million barrels per day.
"the Outlook for the oil market even more deplorable than in November 2014, when we started this price war, when we are talking about a significant drop in demand for oil due to the coronavirus," said Goldman Sachs.
the value of the shares of the national oil company of Saudi Arabia Saudi Aramco at the opening of trading fell by maximum permissible 10% to 27.1 Rial, follows from the data of Saudi stock exchange (Tadawul).
the Situation in the oil market, plans to use Belarus, the Prime Minister who said that the fall in world prices "opens new possibilities" in talks with Russia on supplies of hydrocarbons.
