Saturday , April 17 2021

70 dollars per barrel in 2019? Oil price increases after the "Black Friday"

Oil prices rose on Monday more than 2%, after falling on Friday to its lowest level this year.

  • f & # 39; yuchersy Brent crude gained 1.68 dollars to reach 60.48 dollars per barrel, or 2.9%.
  • Meanwhile, WTI crude rose 2.4%, or $ 1.21, reaching $ 51.63 per barrel.

Thus, the prices recovered some of the steep losses on Friday, when they reached the lowest level since October 2017Amid growing fears of oversupply. Brent fell to $ 58.41 per barrel and WTI fell to $ 50.15.

However, the rally on Monday was limited by uncertainty about global economic growth and increase the supply of new characters, including Saudi Arabia's production figures, which reached between 11.1 and 11.3 million barrels per day in November, he showed an industry source reports Reuters.

$ 70 per barrel in 2019

Currently, oil supply growing faster than demand, and try to keep the overall surplus is expected that the Organization of Petroleum Exporting Countries (OPEC) agreed to cut production at its next formal meeting on 6 December.

For its part, Goldman Sachs predicts that the G20 meeting this week may be rising raw material prices, the catalystAnd that OPEC and other countries reached an agreement that will lead to a market recovery.

"If we believe that the price of oil brand Brent $ 86 per barrel, were acquitted, and we do not believe that 59 dollars," said of Goldman, which predicts that crude oil marker on the quote of $ 70 per barrel in 2019.

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