Oil prices! WTI fell 6% six-year low of cloth to refresh the oil hit $ 40
Petroleum Exporting Countries (OPEC) meeting on Friday is not set production ceiling, so the market is expected to continue to grow oil supply, oil prices remain under pressure, Brent crude fell nearly seven-year low, WTI oil prices fell to six-year low.
As of Dec. 8 at 2: 08, WTI crude for January delivery fell to expand by 6% to $ 37.55 / barrel, six-year low refresh. Brent oil prices fell 5.36% to $ 40.70 / bbl, a 2009 low.
Last week, a statement issued after the OPEC meeting did not mention the new production targets, OPEC Secretary-General al-Badr said that the current production target is difficult to give, to go to the next meeting of the job.
Bloomberg quoted Iranian Oil Minister Bijan Namdar Zanganeh said the statement after the meeting, which means that no oil production ceiling, everyone can do whatever they want. IHS oil analyst Jamie Webster also said it expects next year OPEC oil production will grow further.
Reuters quoted Barclays analysts said, OPEC production is declared not to mention within the organization difficult to coordinate signal. "In the past bulletins include at least let everyone can go to comply with the declaration, or allow them to maintain production according to production target, and now they are not."
PVM Oil Associates, said oil analyst Tamas Varga, a stronger dollar and OPEC meeting on Friday to let the oil market under pressure.
Germany's Commerzbank analysts said that if oil prices to rise next year, drivers will not come from OPEC, but the increase and the decline in oil production outside OPEC international demand. They said in a report:
OPEC oil prices next year will not rely on an agreement or re-price controls, we believe that the main factor is the decline in demand and strong growth in non-OPEC national oil output.
And after the OPEC meeting, Goldman Sachs forecast more pessimistic. Wall Street knowledge mentioned, Goldman Sachs is expected to at least the end of next year, the international oil market oversupply will continue, oil prices in the coming months or even nearly $ 20 a barrel is a risk that fell by 50% on a current basis, a repeat of last year's oil price "cut" of the scene. In September this year, Goldman had warned oil prices could fall to $ 20 a barrel.
Goldman's commodity research senior strategist Damien Courvalin representation, OPEC meeting, "further increasing the oil market supply and demand balance their own pressure", OPEC member states to adhere to their quota levels without making any comments, and the market has not clearing excess supply of occasion, in such a way OPEC could further depress prices.
