Oil price collapse breaks records
On the world market, the whistle of oil prices began again, triggered by statements by OPEC and US President Donald Trump.
Yesterday, November 13, was marked by a drop in oil prices, which experts have already recognized as the sharpest since 2015.
American WTI oil fell 7,1% to $ 55,69 per barrel, with prices dropping slightly below $ 55 during trading. The price fell by 6,6% to $ 65,47 per barrel, having fallen in price by almost $ 5 and Brent crude oil.
The reason for this sharp drop was OPEC forecasts, which not only lowered the forecast for oil demand in 2018, but also allowed an oversupply of oil supply in 2019, as well as a statement by Donald Trump, who urged the cartel to leave raw material production at the current level.
Energy Minister Alexander Novak, commenting on the sharp drop in oil prices, said that despite fluctuations adding “nervousness to the markets,” the overall situation is more stable compared to 2014, and it would be wrong to react sharply to them.
The head of the department assured that Russia has all the necessary tools to respond to serious crisis events, but so far he does not see the need for their application.
Yesterday, November 13, was marked by a drop in oil prices, which experts have already recognized as the sharpest since 2015.
American WTI oil fell 7,1% to $ 55,69 per barrel, with prices dropping slightly below $ 55 during trading. The price fell by 6,6% to $ 65,47 per barrel, having fallen in price by almost $ 5 and Brent crude oil.
The reason for this sharp drop was OPEC forecasts, which not only lowered the forecast for oil demand in 2018, but also allowed an oversupply of oil supply in 2019, as well as a statement by Donald Trump, who urged the cartel to leave raw material production at the current level.
Energy Minister Alexander Novak, commenting on the sharp drop in oil prices, said that despite fluctuations adding “nervousness to the markets,” the overall situation is more stable compared to 2014, and it would be wrong to react sharply to them.
The head of the department assured that Russia has all the necessary tools to respond to serious crisis events, but so far he does not see the need for their application.
Information