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Oil market worried about gloomy forecasts of experts

Oil market worried about gloomy forecasts of experts 

The oil market is going down pretty quickly this morning. As of 11:05 Moscow time, April futures for Brent fell 0.84% ​​to $ 55.47 per barrel, and March futures for WTI – by 0.92% to $ 52.37 per barrel.

 Oil market [19659003] The situation with COVID-19 in a number of countries remains quite alarming. In the Netherlands, a curfew was imposed on January 22, and the almost full lockdown was extended until February 9. In connection with restrictive measures in a number of cities of the country, riots broke out. </p>
<p> In addition, the oil market drew attention to the words of the head of the scientific council of France, specialist in immunology Jean-François Delfressy. He warned of the possibility of a third lockdown in France due to the widespread prevalence of new strains of COVID. </p>
<p> Increased quarantine restrictions could hold back economic recovery, which will hit oil demand. “In 2021, the main supply and demand risks remain. And that could shake underlying market factors, ”<a href= quotes Reuters commenting on Citigroup analysts.

The oil market is affected not only by the pandemic

“COVID-19 continues to spread around the world, and ahead of the season for the maintenance of refineries,” – said, in turn, Rystad Energy analyst Bjornar Tonhaugen. Despite OPEC +'s best efforts to reduce production, the market could be shocked when the alliance finally decides to return to the maximum rate of oil production.

As a result, the price of raw materials may fall, the expert said. “However, this moment will only come in a few months,” added Tonhaugen.

Meanwhile, according to a Reuters report, the Petroleum Facilities Guards, which guard oil terminals in Libya, said they would block oil supplies from the ports of Ras- Lanuf, Es-Sider and Hariga over wage disputes. : ///

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