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Date: 4 months ago   Category: Finances

Brent oil sharply fell in price


Falling happened after long growth up to October 22. Before oil cost 78 dollars for the Photo barrel: depositphotos.com the Price of Brent crude oil at the auction in London fell lower than 66 dollars for barrel. Last time the North Sea oil was trading on such mark in March. Why oil becomes cheaper and whether it is worth waiting for a rebound, the adviser for macroeconomic of the CEO of the Opening Broker company Sergey Hestanov comments: Sergey Hestanov the adviser for macroeconomic of the CEO of the Opening Broker company "Occurs nothing especially terrible. All previous price hike on oil which lasted several months had very simple reason: all expected introduction enough tough anti-Iranian sanctions and just in case bought oil futures. Now, when it became more or less clear what results from nothing extraordinary from these sanctions, for many countries official exceptions are made, the market returns to the equilibrium state. Therefore it is more correct to say not that now the prices sharply fell, and that before it increase in prices as it often happens, was higher, than it was economically caused. And the stronger the prices will fall, the probability is higher that the countries which were participants of the agreement of OPEC will decide to conclude the new agreement. Now this idea is already actively discussed, and the low prices, the are higher readiness for negotiation and conclusion of agreement at all petroleum exporting countries which are included into the agreement of OPEC. Therefore, most likely, this agreement in this or that look will be concluded again, and we will see, as a result, new increase in prices". Earlier Ministers of Energy of member countries of the agreement of OPEC which concerns regulation of oil production in the world came to a conclusion that to change terms of transaction prematurely. Most likely, the position of the countries will be ready by December 5 when in Vienna there takes place the next meeting of ministers. Also in OPEC noted that next year, most likely, production will quicker grow in the world of the necessary level therefore did not exclude reduction of level of production. To add BFM.ru to your sources of news?

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