02.07.2015 - We expect a decline in oil prices
The price of US benchmark Light Sweet crude oil shows a decline on a background of a number of negative factors. Thus, the US dollar continued to strengthen against other major currencies on the background of positive statistics in the United States. In addition, oil production in the OPEC countries, according to analysts, has exceeded 32 million barrels per day against the quota of 30 million barrels a day. Demand in China fell after a sharp rise in the spring. The main topic of the talks is the Iranian nuclear program, which will continue until July 7. We see no reason for the growth of the oil on the background of oversupply of oil on the market. According to our estimates, the price fell to 50-52 dollars per barrel in the near future.