The price of crude oil went into negative values

Image: portal of the mayor and government of Moscow/Evgeny Samarin

the Price of Russian oil Urals went into negative values, informs “Evening Moscow”.

Vendors believe that because of the low prices for Russian black gold will lead to the fact that it will cease to generate any income and loss.

a Negative value in the cost of oil is due to the fact that transportation costs and payment of export duties exceeded the average price of raw materials of the brand in the past few days.

on March 31 the cost of black gold Russian brands fell to a 13 dollar per barrel. For buyers from the Mediterranean price amounted to 15.25 dollar, which is an absolute minimum since June 1999.

Deputy Director General of the national energy Institute Alexander Frolov said that currently the supply and demand in the oil market continue to be volatile due to the coronavirus. The recovery in demand and reduced supply because of the decline in the number of investors, according to experts, are the main factors of growth of prices for black gold.

the Price of Brent crude oil 30 Mar amounted to 21.82 USD. Such a low price was not since March 2002. The main reason for this dynamics is called the failed negotiations of the countries-participants of the OPEC format+.

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