The moment of the crossing of the psychological limit of the price for a barrel of oil is the cause for activation of the world media, and dramatic titles due to the number 50 might be seen very soon.
Namely, the value of the European version of the black gold has been growing without significant pauses since January 20, when a record-breaking low price of 27.7 dollars per barrel was registered. The only noticeable moments of possible change of direction occurred in early February and late March, and lasted for several days only.
Even the recent failed meeting of representatives of world’s largest oil exporting countries proved to be only temporarily dangerous because the prices kept growing steadily. As a reminder, an agreement on the “closure of the faucet” was supposed to be reached at a meeting in Doha, all with the aim of establishing better control and evoking the price growth.
According to the current situation, value of the US and European oil is approaching the psychological limit of 50 dollars, which might be crossed in the several coming weeks. Price of the European Brent amounted to more than 47 dollars on Thursday.
Certain analysts think that the crossing of the 50 dollars limit will cause an increase in production and stabilization of prices.
Since January 20, the price of oil increased by more than 40 percent, and the price of 50 dollars was last recorded in November 2015.
(Source: klix.ba)
