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The price of oil fell 6.92% yesterday to US $ 7.40 to US $ 73.40 per barrel, while US crude fell from US $ 3 to US $ 71.05 per barrel, its lowest since the end of June.
That the United States consider waiver of sanctions that will be reimposed on exports of Iranian crude oil.
The Goldman Sachs International Bank confirmed that the level of investment in crude oil will remain healthy and healthy until the end of 2018, despite the increase in trade tensions and conflicts and the shrinking global oil stocks.
The expected increase in crude oil prices is due, in part, to restrictions on the continued growth of oil shale oil production in the United States, including higher production costs. high, transportation problems and bottlenecks.
Difficulties faced by American production at the present stage, but the bank is banking on a better and promising future for the oil industry and supports the idea that rock oil is a technological revolution which will maintain long-term price stability. The bank expects the price of $ 82.5 will hit $ 75 a barrel by the end of the year, highlighting the major production crises in Venezuela, Iran, Libya and Angola that threaten the oil supply.
Crude oil prices continued to decline as trade confrontation between the US and China intensified after new trade taxes on China renewed worries about global economic growth and therefore the demand for crude oil. These declines continue Saudi Arabia and Russia to increase production in accordance with the OPEC decision and its allies end up pumping around an additional one million barrels a day to make up for the fall in oil prices. Iran and Venezuela. "The trade dispute between the United States and China will have consequences for economic growth and demand, especially because of the estimates of the International Energy Agency (IEA), which ranked China in the forefront, "said Sergei Vakulenko. President of US exports of crude oil and petroleum products.
He explained that Russian oil exports enjoy competitive advantages in international markets and that US production will not be able to capture the market share of Russian oil, underlining the ongoing coordination between the energy companies and the Russian government. OPEC wants to alleviate the oil shortage, as confirmed by OPEC President Suhail Al Mazroui, UAE Minister of Energy, highlighting the OPEC to consumer demands, especially adults, and therefore take into account the complaint of the warrant. United States, China and India of the price rise.
According to al-Mazroui, "OPEC is very cautious about decisions to increase production as it does not want to return the market to the oversupply crisis that has lasted more than three years and exhausted the economy of the industry.Study quickly the situation of American production and developments to make sure that the increases will not disturb the balance of the market in addition to the price survival at good levels encouraging investment
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