17 April in Doha (Qatar) will host a meeting between the countries-members of OPEC and the exporting countries that are not members of the organization. The main question for discussion – freezing oil. Bank of America analysts believe that if the decision is made, oil prices will increase to $ 50 per barrel.
Experts of the American magazine Bloomberg believe that a stable level of production of OPEC countries (excluding Iran) and Russia can make the world balance in the second half by 0.5 million barrels a day tougher. In addition, it is noted that this may lead to shortages in the oil market in the third quarter. According to experts, this situation on the market is able to raise the price of “black gold” to $ 50.
It is also noted that the rising cost of oil will occur regardless of soft or hard version of the agreement, implying a mechanism for monitoring observance of the agreements will be adopted.
However, if the exporting countries can’t come to an agreement, the price of black gold may fall below $ 40 dollars per barrel.
In addition, analysts warn that the increase in oil production by Saudi Arabia (SA) can lead to a drop in prices up to 30 dollars.
Previously the crown Prince of SA stated that his country will consider an agreement to freeze only if Iran will join it. However, Iran has many times stated about the increase of oil production to compensate for the volumes that were lost in the sanctions period.
