Oil price slides to 11-year low

Baku. 21 December. REPORT.AZ/ Brent crude slumped to the lowest level since 2004. 

Report informs this morning the price for Brent crude oil fell to 36,18 USD.

It should be noted that this price is lower than 36.20 USD per barrel sold in December 2008.

Oil prices fell on news of the preparations for the lifting of the embargo on oil exports to the US Congress and marketing of Iranian oil.Analytical Group of Report notes that in the case of preservation of the price of oil at 36.20 USD per barrel in a few days, there is a chance of falling prices to 23 dollars per barrel.

Sale of Iranian oil and the lowest rates of the Chinese economy can dramatically reduce the price of oil in the first quarter of 2016.In the long term the price will fluctuate between 20-50 USD per barrel.