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Expert's opinion from FXFinPro
Oil according to our estimates will continue to decline
The price of futures on Light Sweet crude oil after failing to overcome the level of 38 dollars per barrel resumed its decline in connection with the statement of Saudi Arabia concerning saving the policy of unlimited oil production despite falling prices for oil. It should be noted that an additional factor that negatively affects the quotes is the growth in US inventories by 2.6 million barrels last week, compared with an expected decline of 1.8 million barrels. Given the expected lifting of sanctions against Iran in January, we are waiting for further decline in oil prices in the medium term.
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Thursday, 31 Dec, 2015 / 7:39
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