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Analysts say oil prices will fall again
The oil prices will rapidly go down, Goldman Sachs experts predict. The level of raw oil procession is close to its historical maximum now and there is not enough space in oil reservoirs. The situation is aggravated by the rate of the increase of the demand for oil (especially petrol) and the increasing supplies from the East.
“The current situation resembles 1998 and 2009 when oil reservoirs were full and the oil prices went down dramatically,” The New York Times quotes the experts.
The oil production exceeded the world demand for oil by a lot now, Goldman Sachs experts stressed. And a balance is unlikely to be reached in 2016.