Oil prices could fall to $ 39 per barrel by the end of the third quarter. This forecast was made by analysts at Bank of America Merrill Lynch, according to The Wall Street Journal Monday, June 20. Investment experts refer to the traditional decline in demand in the United States in late summer.
Analysts say that typically the oil prices rise in the beginning of the summer season (i.e., in the second quarter), when people more actively use private transport. This encourages refineries to purchase more raw materials for the production of fuel.
A similar pattern was observed last year. For example, in the second quarter of 2015, prices have risen by 25 percent, and in April-June of 2014 — 3.7 percent.
In the third quarter of this factor will gradually stop working, which has led to a possible drop in demand in the future.
At the same time analysts predict that in the medium term, oil will still be expensive. In the fourth quarter, they expect the price to 54 dollars per barrel.
On Monday 20 June, oil prices jumped above 50 dollars per barrel because of lower risk regarding the British exit from the EU.
