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S & P Global Ratings: American oil producers will be the first casualties of a price war

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S & P Global Ratings does not expect Russia and Saudi Arabia will overcome their differences and return to the negotiating table, despite the fall in oil prices.

S & P Global Ratings: American oil producers will be the first casualties of a price war

Rating Agency S & P Global Ratings for the second time this month lowered its forecasts for oil prices in 2020 and stated that U.S. producers will likely suffer the most due to the decline in oil prices.

"the Price war by OPEC and Russia is obviously aimed at producers with a higher cost, located as a rule in the United States," said the rating Agency. "The United States became a major player in world oil markets and a major exporter. To determine how high production in Saudi Arabia and how long."

In S & P Global Ratings warned that it can take appropriate rating actions in the coming weeks, but don't expect production in the United States will immediately fall "because of hedging and previously drilled wells".

According to a statement from 22 March, the forecast oil prices for 2020 were reduced to US $ 10 per barrel to USD 25 per barrel for WTI and to $ 30 / bbl for Brent. Forecasts for 2021 and 2022 has not changed.

Thus, the S & P Global Ratings joined a number of organizations that are revising price forecasts for oil, as prices continue to fall, despite the announced worldwide, multimillion-dollar incentives.

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