The forecast for the oil market even more deplorable.
The price of Brent crude could fall to $20 per barrel, informs Bloomberg referring to the forecast of analysts of the American investment Bank Goldman Sachs.
To this conclusion they came, having tested at what price level will be able to work some manufacturers. In addition, the Bank lowered its forecasts for the second and third quarter, assuming that the cost of a barrel of Brent will not exceed $30.
Goldman Sachs analysts have attributed the collapse in oil prices with the collapse of the oil deal between Russia and OPEC, as it became known on March 6.
“We believe that OPEC and Russia this weekend started a price war,” — said in the report.
According to analysts of the Bank, now forecast for the oil market “even more deplorable, since we are talking about a significant drop in demand for oil due to the coronavirus,” quoted experts RBC.