13.09.2016 - The probability of falling crude oilhas increased
The International Energy Agency published a report according to which forecast on oil demand growth has been lowered this year to 100 thousand barrels per day and in 2017 by 200 thousand barrels per day. In August, production outside OPEC fell by 300 thousand barrels per day, while stocks in OECD countries rose to a record level of 3,111 billion barrels. The report also noted a slowdown in oil consumption in China and India. As a result, we expect the decline in oil prices in the near future and medium term by 10-15%.