The expert have predicted the fall of oil prices in the next six months

Photo: depositphotos/Kokhanchikov

Partner of consulting company RusEnergy Michael Krutikhin suggests that in the next 2-6 months, we should expect further fall in oil prices on the world market, according to news Agency “national news service”.

“Here almost in the same position deliveries from Russia and Saudi Arabia, and we see once abandon Saudi oil, which is cheaper than Russian with huge discounts, it means that previously these same buyers have refused Russian oil”, – said the expert.

He said that we are talking about instant delivery, unspecified prolonged agreements. While long-term contracts, the oil continues to flow via pipelines and tankers. However, the capacity of the oil storage tanks, including strategic, in many countries right now.

“According to different estimates, a full population can be expected within 2-6 months. Thus, the U.S. position is better, there are more of these stores also construct a temporary. But in other countries this is not happening,” said Krutikhin.

He believes that filling the storage would provoke a further fall in the prices of raw materials. The cost of Russian oil makes it uncompetitive in the circumstances.

the Expert has relied on forecasts, which may decline in oil prices to $ 10 per barrel. And now, some countries offer similar prices.

“the Main thing, of course, not supply and demand. At the suggestion there is fierce competition, and those who have oil more expensive, will gradually from the market to displace it,” said Krutikhin, stressing that Russia is not in a favorable position.

He said that the cost of Russian oil when it is shipped in tankers, and is not at the wellhead – about 42 dollars per barrel.

Iraq, Kuwait and Saudi Arabia after the failure of OPEC transactions+ lowered oil prices. According to media reports, this policy is aimed at weakening Russia’s positions.

Members of the cartel are unable to agree with respect to reduction of oil production by 1.5 million barrels a day until the end of 2023, Russia and Kazakhstan refused.

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