On Wednesday fell Brent crude oil below 50 dollars a barrel, the lowest since May 2009. Large selection and weak global demand is behind the falling price, writes Reuters.
Oil markets continue to go down and has dropped more than ten percent this week. Since its peak of 115 dollars, in June last year, prices have gone down by around 57 percent.
– There is a surplus in production of 1-1.5 million barrels per day in 2015 and there is absolutely no indication that OPEC will intervene to reduce output at a time of lower demand, says Bjarne Schieldrop, chief commodity analyst at SEB in Oslo, told Reuters.
The declining prices have increased fears of deflation, which in turn increases the uncertainty about future demand for oil.
– The declining growth in China is expected to keep oil prices low, said Nobuyuki Nakahara, a former board member of the Bank of Japan, told Reuters, adding:
– Historically, prices over $ 100 a barrel abnormal. I would not be surprised if the price drops to as low as $ 20 per barrel.
brugte
Tel: 019-16 61 30
E-mail: redaktionen@jordbruksaktuellt.se
Comment on this article»
No comments:
Post a Comment