The price of oil has not increased despite the recent weakening of the dollar and continues to be under pressure a number of negative factors, the main ones are stable oversupply of oil on the market at the levels of 1.0-2.5 million barrels per day, an increase in US oil inventories for the eighths week in a row, reduction of spare capacity for the storage of oil. In addition, Iran declared its readiness to increase the volume of oil exports two times to 2 million barrels per day after the lifting of sanctions, which is expected in December-January period. The slowdown in the industry in China is an additional negative factor for oil prices. At a meeting of OPEC that will be held in Vienna on 4 December, we expect no change in the rhetoric of the cartel. Our medium-term outlook for Light Sweet remains negative and we expect a decline in prices to the levels of 40.00 and 38.00 in the near future.