Oil: the statements of Muhammad bin Salman has strengthened prices
Oil rises in price on the background of statements of the crown Prince of Saudi Arabia Mohammed bin Salman, President of the Russian Federation Vladimir Putin at the G-20 summit of intent in 2019 to continue to cooperate to stabilize the oil market , i.e. to continue to cut oil production.
But as the global market was oversupplied, in what volumes will the reduction will be resolved at the meeting of OPEC countries, which will be held in Vienna this week. But will the cartel members execute this agreement, and how the production cuts will affect world prices, is still unknown.
While the United States actively sought and achieve a further decline in oil prices, and it is unlikely they are simple so will give the initiative to the rise in oil prices on the global market, the administration of President Donald trump uses all the leverage over Saudi Arabia, Russia and other countries-exporters of oil to prevent the growth of prices.
So in the near future we can expect the price movements of BRENT to the level of $ 65 per barrel, but the downward trend is likely to continue and the level of 55 dollars per barrel, not far off.
A leading economist,