Bank of America analysts expect growth in oil prices above 50 dollars per barrel, if the exporting countries at a meeting in Doha agreed to freeze production. It is reported Rambler News Service.
According to experts of the Bank, any option agreement — both soft and hard (i.e., implying a mechanism to ensure the implementation of agreements) — will raise oil prices above the specified level.
If the countries-oil exporters are not able to come to an agreement, oil prices could fall below $ 40 per barrel. Moreover, there is a risk that Saudi Arabia will announce a production increase in response to the return of Iran to the market. In this case, the oil could drop to $ 30 per barrel, warned Bank of America.
In turn, analyst at Dutch Bank Rabobank Peter Mathis did not rule out the sale of oil in the market after meeting in Doha, which will lead to a drop in prices. “We may be witnessing a classic reaction to “buy on rumor, sell on the news” if the meeting in Doha will end some kind of agreement between major oil producers”, — quotes Agency of his word.
In the summit in the Qatari capital Doha on April 17, will be attended by representatives of 16 countries, which account for more than half of world oil production. A number of key market players such as Iran, Brazil and Libya, has declared that does not intend to limit production.
