Worst case scenario: Oil risks collapsing to $ 10 per barrel

World oil prices could fall to $ 10 per barrel if a number of undesirable factors add up. Such a negative outlook gives an authoritative resource Oilprice.com.

In the worst case scenario, measures to combat the coronavirus will trigger a wave of bankruptcies, leading to higher unemployment. This would limit the ability of the global economics to recover after the containment of the virus is successful.

The impact of coronavirus on trade is due to inability or unwillingness to spend due to fear of catching an infection, the text says. At the same time, neither governments nor central banks can do anything to increase demand in such conditions. Their only option is to offer support to affected businesses to help them avoid bankruptcy.

If, at the same time, the main oil producers fulfill their intention to increase production - Saudi Arabia by 2 million barrels per day, Abu Dhabi and all other OPEC members by 1 million more on each side, then the price fluctuation may remain at around $ 20 per barrel to the end of the year.

New short-term plans should be developed urgently, suggesting a further reduction in oil prices to $ 10 per barrel

- believes the publication.
  • Used photos: needpix.com
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  1. Valentine Offline Valentine
    Valentine (Valentin) 17 March 2020 17: 46
    How is it that Miller will be left without work, and the owners of oil wells will go around the world ...... But the poor people already have nothing to lose.
    1. g1washntwn Offline g1washntwn
      g1washntwn (George Washington) 18 March 2020 06: 29
      Why did you stop at the most interesting ....
      The Saudis will have to change from the Bugatti back to camels. Shale kirdyk, Trump's promises will rest their foreheads on the fact of an imbalance in production and consumption. Russia will screw the valve on and Europe will be "happy" that it may not burn fossil fuels to the delight of Greta Tumberg ... Well, and so on.
  2. gorenina91 Offline gorenina91
    gorenina91 (Irina) 17 March 2020 19: 06
    Worst case scenario: Oil risks collapsing to $ 10 per barrel

    - The collapse of the oil price ... like a gun in Chekhov's play ... - Although in the last act ... but it will still "shoot" ...
  3. paphnutius_2 Offline paphnutius_2
    paphnutius_2 (Bell pepper) 17 March 2020 19: 52
    $ 10 is very expensive. $ 1 for oil just right.
  4. serge Offline serge
    serge 17 March 2020 21: 09
    Maybe they will, maybe not, but 29 she has already broken.
  5. nov_tech.vrn Offline nov_tech.vrn
    nov_tech.vrn (Michael) 18 March 2020 00: 42
    And where is the author of this, I apologize for the expression, the translation? Only the source is clear.
    Publisher: James Stafford
    Editors: Nick Cunningham, Tom Kool, Josh Owens
    Country: USA
    Address: oilrice.com
  6. Bakht Offline Bakht
    Bakht (Bakhtiyar) 18 March 2020 21: 50
    The Saudis sell oil to Europe at a discount of $ 8 per barrel. So, they will sell for $ 2. Soon, probably, they will have to pay extra for their oil to be bought.
    My first boss used to say, "No mind, consider yourself a cripple."
    1. Bakht Offline Bakht
      Bakht (Bakhtiyar) 18 March 2020 21: 52
      Fresh information. In real time

  7. 69 Offline 69
    69 18 March 2020 22: 00
    This will depend on how low the under-hegemon drives the Saudis, they are not their own masters.
  8. Bakht Offline Bakht
    Bakht (Bakhtiyar) 18 March 2020 23: 23
    The defeat of the Saudis under Hazm:


    We have not heard what Yemen said about the increase in oil production in Saudi Arabia.
  9. Sanches sokolov Offline Sanches sokolov
    Sanches sokolov (Sanchey) 19 March 2020 09: 10
    At this price, over 80% of oil companies will collapse in six months, then the price will skyrocket to 200 bucks. And the markets will be occupied by those who survive in this war. I guess who. Russia has a printing press and the ability to include state regulation primarily on food, and everything else will be pulled up. Even somewhere deep down I wish it, all of this will allow Russia to get out of its hydrocarbon dependence in terms of impact on budget revenues, and all in excess of revenues can be directed only to development, reserves, science, breakthrough directions, fundamental science.
  10. Dust Offline Dust
    Dust (Sergei) 19 March 2020 13: 35
    When oil reaches the level of 6-8 dollars! We must give a command to buy! And we’ll keep it until better times!)