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Expert's opinion from FXFinPro


Oil will likely continue to fall

The price of oil today shows a strong decline after the capital of Qatar hosted a meeting of a number of major oil producers among which was the majority of OPEC countries and Russia. As a result, at the meeting was not taken decisions on freezing the volume of oil production. As a result, some countries may continue to increase the amount of oil that will help to maintain an excess of oil supply in the market. According to our forecasts, Light Sweet oil price is likely to continue to decline in the near future, and in this case the target levels will be 36 and 33 dollars per barrel.

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