to begin the rapid growth of oil prices to $30 and higher will end quickly: prices will remain in the range of $25-32 per barrel, predict respondents Вести.Ru experts.
Oil traders expect the fall in oil prices to $20 per barrel or lower, even under $5, according to surveys by Bloomberg.
Real collapse will begin in April when the promised additional volumes of oil from Saudi Arabia and Russia flooded the market, and a trade war between the U.S. and China will worsen the situation in the world economy, suffering from a coronavirus, and will further reduce the demand on the oil market.
“the Strengthening of oil prices can have short-term effect, since certainty in the settlement of trade wars is still there. Trump the desire to influence the situation is encouraging, however, about the specific steps in this direction is unknown,” said Вести.Ru Igor Galaktionov, an expert on the stock market “BCS”.
“in addition, the growth in the number of cases of infection with coronavirus continue to grow at double-digit rates so that its forecast for demand for oil remains bleak. The range is $25-32 per barrel of Brent may be relevant to the end of the month” — the expert predicts.
“a High probability of further growth to $40 per barrel on the background of active measures on the part of Donald trump. After the US President joined a strategic U.S. reserves of cheap oil at 77 million barrels, and expressed support for the industry, he will certainly try to negotiate with Saudi Arabia to regulate prices, to further reduce pressure for the entire oil shale industry, which is experiencing the worst of times”, — said Iskander Lutsky, chief investment strategist at ITI Capital, in comments to Вести.Ru.
In his opinion, the market is winning back the news previously announced measures to stimulate the economy and stabilize financial markets.
the Previously announced main package — run cash infusions to the markets in the US and in Europe, with fiscalstimulirovanie around the world. The most significant package of proposed US administrations — to $1.1 trillion.
“All this was ignored by the markets due to the proliferation of coronavirus. This is and will be a key factor of the bearish trend. Therefore, the current rise is delayed rebound, which again might fall”, — predicts expert.
oil Prices are growing rapidly for a second day after a slump to record low levels. Oil began to go up the evening of March 19 at 6-7%, and today, the growth continues in the morning.
the Price of contracts for the supply of oil rose sharply from 9 am to 6-7% and this increase persisted to 13:00 GMT.
According to trading 13:00 GMT, the price of a barrel of European benchmark Brent rose by 6.4% to $30,4 per barrel, while American WTI – by 7% to $28. The Russian export grade Urals has risen to $28 after the collapse to $19 per barrel.
Momentum growth rates gave the news about the US plans to cut production and to intervene in a deal OPEC+.
In oil price war waged by Saudi Arabia, can interfere with the US, according to the WSJ. Texas authorities have said it may disappear entire oil and gas sector with the price of oil.
Officials of the US administration are studying the possibility of diplomatic pressure to force Saudi Arabia to cut oil production to the level previously in force transaction OPEC+. The US wants to threaten Russia with new sanctions. The US goal is to stabilize prices, after oil companies in the US lose a lot of money and are forced to take out new loans to pay off debts because of the collapse of prices in the oil market.
Oil companies of the USA appealed to the President of the United States Donald Trump to intervene, say people familiar with the matter. If prices are not stabiliziruemost at the same level near $40 a barrel, scores of US oil companies go bankrupt.