Falls the price of oil…

The saturation of the market and the weakness…
the countries of the OPEC to agree to specified levels of production brought oil prices to very low levels, something that is expected to continue in 2016
Oil prices were expected to record a second year of significant losses, although it showed a slight rise in the last few trading hours of 2015, as well as the offer record from the OPEC creates an unprecedented saturation in the global market.
The futures of the american crude oil, known as West Texas Intermediate (WTI), recorded a rise of 11 cents in the 36,71 dollars a barrel at 11:36 uk time, with the oil brent increased by 20 cents in the 36,66 dollars.
Yesterday, prices declined by 3% as stocks of crude in the united states grew by 2.6 million. barrels last week, according to data announced by the us Office of Energy Information.
The immediate prospects for oil prices remain pessimistic. Goldman Sachs has said that you might need the prices to fall to $ 20 a barrel in order to balance the market. Morgan Stanley on forecasts for the next year, estimated that “increasing the odds for oil in 2016”.
Analysts expect to flow in the global markets and some quantities of american oil, after the unexpected lifting in December of a ban on exports of american crude.
According to the estimates of analysts, the production of crude oil exceeds demand by about a million and a half. up to 2 million. barrels every day.
The oil began to recede in mid-2014, as well as the increased production from the countries of the Organisation of petroleum exporting countries (OPEC), Russia and the us producers of shale oil has surpassed the demand. The fall accelerated at the end of 2014, after the decision of OPEC, where a leader holds the Saudi Arabia, to maintain production at high levels to maintain market share rather than reduce production to support prices.
In the meeting at the beginning of the month in Vienna, OPEC failed to agree on targets for production, cementing his decision to protect its market share, as he prepares for the return of iranian exports to the market after the lifting of sanctions of the West against Tehran.

Exit mobile version