Oil quotes are likely to remain at the same level. They will be influenced by the epidemiological situation in the world and the negotiations between the United States and Iran on returning to agreements within the framework of the nuclear deal, experts told Izvestia.
Thus, Natalya Milchakova, deputy head of the Alpari IAC, said that the price of Brent crude should be expected in the range of $ 63-68 per barrel in the next month, and if the United States lifts the embargo on Iran, this will significantly increase the supply of oil products on the market and will negatively affect quotes.
The head of the analytical department of AMarkets Artem Deev believes that the main issue for the market will remain the issue of supply and demand balance. According to him, everything will depend on how quickly countries can return to their previous volumes of oil consumption, which is difficult to predict in the context of the ongoing coronavirus pandemic.
In his opinion, the prices are likely to remain in the range of $ 62–66 per barrel in the near future.
As Russian Deputy Prime Minister Alexander Novak noted earlier, OPEC + countries should monitor the situation in the global oil market amid the spread of COVID-19, and now there is a positive trend in population mobility and a recovery in demand in the largest oil-consuming states.
Read the full version of the material in the exclusive material from Izvestia:
On the oil front: why the terms of the OPEC + deal remained unchanged