Oil price declines, top analysts disagree

On Thursday, April 8, oil prices simultaneously showed weak growth: the price of Brent rose by only 0.34%, to $ 63.12 per barrel, and the price of WTI – almost the same, by 0.35%, to $ 59.83 per barrel. …

In a recent review, the global rating agency Fitch praised the work of OPEC + to stabilize the oil market, calling the strategy of the countries participating in the agreement, including Russia, a winning one. However, the investment bank Goldman Sachs, which in the spring of 2020 was one of the few global financial institutions that predicted a fairly rapid recovery of the oil market in the second half of 2020, this year warns of the risk for the oil market in the form of increased exports from the non-OPEC + Iran.

This morning, oil prices have been falling synchronously: the price of Brent is losing 0.85%, dropping slightly below $ 63 per barrel, while the price of WTI is falling by 0.86%, and has already fallen below $ 59. For today, our expected corridor for the Brent price is $ 62-63 per barrel.

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