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the Price of WTI crude oil fell below $ 20 per barrel for the first time since 2002. This is the website “Arguments and facts”.
the Price of may futures for WTI crude oil fell by 8.52% and is around 19.98 USD. The price of the June gold futures on the mark Brent fell by 4.65%, to 26.6 per dollar.
Oil traders previously speculated that prices could fall to five dollars per barrel. Such cost may persist for several weeks and before the end of the year, traders believe.
Among the factors that have a negative impact on the global economy, in addition COVID-19, Russian energy Minister Alexander Novak called the drop in oil prices due to the failure of the transaction OPEC+.
Members of the cartel failed to agree on reducing oil production by 1.5 million barrels a day until the end of 2024, Russia and Kazakhstan refused.
co-Owner of LUKOIL Leonid Fedun earlier said that the decision on the cancellation of the transaction by the irrational. According to him, the Russian daily will lose up to $ 150 million.
Press Secretary of “Rosneft” Mikhail Leontyev said that the OPEC agreement+ terms of Russia’s interests is meaningless and is “masochism”. He stated that the agreement was not a partnership and does not affect the market.
how much can fall in price of oil
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