Oil prices continue to fall

Oil prices continue to fall at the end of last week: the price of Brent falls 1.5%, falling below $74 per barrel, and the price of WTI decreases by 2%, and trades below $71. Iraqi Oil Minister Ishan Ismael said in an interview that the price of Brent oil can stabilize at $65 per barrel, which implies a fairly strong price collapse comparable to the autumn collapse of 2020.

Market concerns also added a Baker Hughes report showing a 10-unit increase in the number of active oil platforms in the US over the week up to 411.

Today we predict a corridor at a Brent price of $72.8-73.5 per barrel.

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