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The price of oil continued to decline today, reaching with nearly six-year low, which was associated with the decision of Goldman Sachs and Societe Generale cut its short-term outlook for oil prices.
As it became known, experts Goldman Sachs downgraded the outlook for the cost of WTI crude oil for the next three months, up to $ 41 per barrel to $ 70 per barrel, the forecast for Brent - up to $ 42 from $ 80 per barrel.
Meanwhile, Societe Generale analysts downgraded the outlook for the entire cost of Brent in 2015 from $ 70 to $ 55 per barrel, WTI - from $ 65 to $ 51 per barrel.
"The deterioration forecasts two largest banks strengthened those fears that have been dipped quotes on their current level, - said the expert Jean MakDzhillian Tradition Energy. - The market still struggles to find the bottom, but the bottom where it remains a mystery to all."
Earlier, analysts Bank of America Merrill Lynch released a forecast, which states that in the short term, Brent will fall in price to $ 40 per barrel. According to experts, the cost of the US WTI crude oil falls to $ 35 per barrel. All this will lead to what will have to cut production or Saudi Arabia or countries outside of OPEC, said in a note ..
Meanwhile, Venezuelan President Nicolas Maduro said that OPEC should find a consensus with other oil producers and to develop a common strategy to support the oil market and stabilize the situation in the global economy. During his visit to Iran, he said that in order to achieve economic equilibrium required return of oil prices to the level of $ 100 per barrel
However, a member of the royal family of Saudi Arabia Al-Waleed bin Talal said that oil prices are unlikely to rise again to $ 100 per barrel. "If the offer will remain at the same level and consumption will be low, we should expect further fall in oil prices. But if the market will lose part of the proposal, while consumption will grow somewhat, prices can go up. But I'm sure that we'll never see oil at $ 100 I said a year ago that the price of oil over $ 100 artificial "- he said in an interview.
The cost of the February futures on US light crude oil WTI (Light Sweet Crude Oil) dropped to 46.55 dollars per barrel on the New York Mercantile Exchange.
February futures price for North Sea Brent crude oil mix fell $ 1.55 to $ 47.88 a barrel on the London Stock Exchange ICE Futures Europe. Earlier, futures touched $ 49.66, the lowest level since April 29, 2009.
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