Futures of WTI fell to minus $ 55. In fact, humanity has witnessed the historical events, which so far no one has ever seen. That means futures down to negative values, “MK” said Sergey Pikin, Director of energy development Fund
To no one panicked, it is necessary to say at once that this is purely a financial tool that revolves around WTI. Basically, instead of “black gold” could be the balls ping-pong table, the meaning would remain the same. Futures are a promise of future delivery. Today, April 20, the last trading day for may futures. Someone has invested billions of dollars to the price drop, and someone on the rise. The first won. And their victory has gained a snowball effect. First trade was on the London stock exchange, and then I woke up USA. American speculators started in Europe. Someone made billions of dollars, and someone lost it. But real trading is not irrelevant, because the June futures are traded in the normal area.
But why is the value of the futures does not affect the real cost of oil?
– Because it is simply a bet that is how tomorrow could cost oil. Moreover, in the auction a greater role played by robots. The system decided that futures began to fall, so we need to sell, so the price collapsed. The degree of influence of these trades on the real cost of oil is small: someone said about the 10% who think even less.
of Course, there are fears that oil storage is full, and soon to keep the “black gold” will have no place. But that is no reason to bombard rates to zero or to negative values. If such danger was in the framework of OPEC+ agreed to on the larger reductions in production.
you Need to consider that there’s a bloody oil war, particularly the Saudis give huge discounts to fill their products in Europe. Of course for every customer the struggle is bitter, what does that mean? Suppliers cut prices.
what do you think, what will be average prices for the year for the WTI and Brent?
– Brent we go about the range of 30-40 dollars per barrel, closer to $ 40. I guess I look like an extreme optimist, but more recently, I predicted $ 60 a barrel. In fact, now the demand is rapidly declining due to the General quarantine, but when the world will come out of it, prices jump again because there will be a shortage of oil.
– a lot is said about the fact that if Russia now will reduce oil production, then restore it will be impossible or very hard, does this mean that the country will lose its market share?
About market share right now, nobody even thinks, is thoughts of the past. All dumayut about how to sell something. Recover the loot possible, but it will require a very large investment.
But more recently, Moscow had hoped to bend under him the Americans with their shale oil…
– to be honest, it was our historical error.
