Referring to the technical studies conducted by the company, Fedun believes that the current fall in oil prices may stay at the level of 15-20 dollars per barrel. In his opinion, the collapse of the price to 20-25 dollars per barrel has occurred, due to the fact that OPEC members+ are unable to agree on further action to stabilize demand and supply in the oil market.
the Central Bank will support the currency market in case of strong falling of the oil prices
“That is, if the transaction was OPEC, the price would be $ 50, plus or minus, but not 25 dollars,” he said.
From the point of view of the Vice-President of LUKOIL, Russia needs to resume talks with Saudi Arabia on oil to stabilize the situation on the market. Price war that began between the former main allies at the OPEC+, best, USA, China, India, and Europe, among which about 2% will grow income, says Fedun.