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Brent crude oil price may drop to 40 USD

Brent crude oil in May exceeded target level of 50 USD / barrel and may continue till the level of 53 USD/barrel

Baku. 26 April. REPORT.AZ/ "Brent" crude oil price may drop to 40 USD/barrel in world markets.

Analytical group of Report says that according to technical analysis of Brent crude oil in the coming days, the price may fall to 40 USD/barrel and rise again.

But in the case of disclosure of the news that will have a negative impact on prices, unexpectedly "Brent" will drop below the level of 40 USD/barrel and the first target can be 37 USD/barrel, the next target is minimum level of the year - 27 USD/barrel.

At present, the probability is approximately 5-10%. The forecast is based on the fact that "Brent" crude oil in May exceeded the target level of 50 USD / barrel and may continue till the level of 53 USD / barrel . There is a very little chance that "Brent" crude can rise to the level of 65 USD / barrel. For this there must be serious problems in production in US and other major oil producing countries.

Analytical group of Report News Agency believes, "Brent" crude will fluctuate between 43-53 USD/barrel in summer months. According to officials in Indonesia that joined OPEC again this year, oil price at 45 USD/barrel is fully consistent with the current situation and does not consider negotiations to freeze production very necessary.

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