Bloomberg: Analysts see oil prices falling to $5 per barrel
MOSCOW, Mar 20 (PRIME) -- Global oil prices may continue reduction and may reach a level of U.S. $5 per barrel, Bloomberg reported Friday citing analysts.
After falling by 60% this year to the lowest level since 2003 prices will reduce to $20 per barrel or lower, the agency said citing results of a poll of traders from several of the world’s largest oil companies. This forecast was given by 18 out of 20 specialists polled by the agency.
Citigroup does not rule out a scenario that in the second quarter the price of Brent crude oil will average $17 per barrel or less, and in some cases the average will be $5 per barrel.