BNP and UBS warned that the fall in oil prices to $ 30 per barrel – RBC

Photo: Boris Roessler / AFP

interviewed Bloomberg experts say that the situation in the oil market resembles that happened last year, when the decline of quotations resumed in May after a break

Bloomberg Agency representatives of Commerzbank, BNP Paribas and UBS Group reported that, in their opinion, the growth of the price of oil by 70% compared to the January lows reminiscent of what was happening on the market last year. Then Brent barrel rose spring up to $ 68 per barrel, but this trend has exhausted itself in May. According to BNP experts and UBS, in the next week prices may return to around $ 30 per barrel.

«There are dangerous parallels with 2015. The market is already overheated and a correction was delayed, “- said the agency representative of Commerzbank Eugen Weinberg

Bloomberg points out that the rise

in prices affected by the unstable situation in Nigeria, Iraq and Kuwait, where there was a strike of oil industry workers.. And in the situation is not affected, including the failure of the Doha negotiations, where the OPEC countries and the major manufacturers have not been able to agree on the freezing level of production at the January level.

However, experts point to a factor of shale oil. “The rise in prices may be suicidal, because it inspires producers in the US shale oil” – indicates Harry Chilingirian of BNP Paribas. The French bank believes that maintaining oil prices at a low level would crush American manufacturers

. «Strengthening of oil prices – the path on thin ice”, – has agreed to UBS analyst Giovanni Staunovo.