Oil continued to fall during the night and WTI fell below the level of the sign in the $ 60 per barrel.
The reason for the decline was the OPEC forecasts for 2015.
Crude price tumbles after OPEC releases 2015 forecast
OPEC predicts that demand for oil produced by the cartel to fall in 2015 to 28.9 million. Barrels. This is 280,000 barrels less than forecast last year and the minimum demand since 2002.
US oil stocks on Wednesday also unexpectedly rose.
Almost all of the news is negative for oil prices and oil analysts opinion about the following:
There is a growing understanding that the first half of next year will be very weak for the price of oil.
The question is, how justified is the further decline of oil, if we take into account that oil prices since July has fallen by more than 40%. McAuley NICHOLAS LUDANOV
