the price of “black gold” standard grades in the course of today’s trading changed slightly after a two-day decline.
as of 8:50 Moscow time, September futures for North sea petroleum mix of Brent rose $0.04 to the previous close to $43,35 a barrel, September futures for West Texas WTI fell $0.04 to $41,03 per barrel, reports “Finmarket”.
As noted by analyst IK “VELES the Capital” Elena Kozhuhova, “quotes remain above the nearest $ 43 and $ 40, respectively, which gives them a good chance of a return to growth after corrective fall.”
However, the chief analyst of PSB Roman Antonov notes that “sentiment in global stock markets by the end of the week was worse.” “The reason for this is the increased tension in relations between the US and China due to the closure of the Chinese Consulate General in Houston after allegations of Chinese espionage and theft of technological developments including the vaccine COVID-19”, — said in the review of the expert.
for his part, the Deputy head of IAC “Alpari” Natalia Milchakova expects trading on Brent crude in the corridor of $43-45 per barrel.
we also Recall that since the beginning of this year on the global oil market rode several waves of falling prices for “black gold”. A negative situation was caused by a whole complex of factors: a General overproduction of raw materials, a sharp drop in demand due to the rapid spread of coronavirus infection COVID-19 (March 11, was declared a pandemic) and concerns about its impact on the global economy and the collapse of the deal, OPEC+ (officially from April 1, but in fact, after fruitless negotiations of the countries-oil producers at a meeting on March 6 in Vienna).
However, on April 12 OPEC+ agreed on a new deal, joined by 23 States. The agreement will be effectVova two years — from may 1, 2020 to may 1, 2022-th. In may—June this year, the production cuts will amount to 9.7 million barrels per day (from October 2018), then — until the end of 2020 — 8 million barrels, and 6 million by the end of April 2022. New business OPEC+ was a forced reaction of oil producing countries on the situation in the market and pressure from the United States. Overall, however, it is not blocked volumes decline in global demand, besides on the market have accumulated huge reserves of raw materials.
At the meeting on June 6, the member countries of OPEC+ extended on a month — until the end of July — the period of validity of the agreement to reduce oil production to 9.7 million barrels per day.
15 July, the meeting of the Ministerial monitoring Committee (JMMC), which is composed of representatives of the countries participating in the agreement OPEC+ coordinated easing from August 1, restrictions on oil production (about 2 million barrels per day) — mined before the imposition of restrictions on the volume will be reduced not by 9.7 million, only 7.7 million barrels per day.
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