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Omani Oil Minister Expects Oil Price at $30-40 Per Barrel in Q4 of 2020
Omani Oil Minister Expects Oil Price at $30-40 Per Barrel in Q4 of 2020
Sputnik International
DOHA (Sputnik) - Oil prices could be at $30-40 per barrel in the last quarter of this year, Omani Oil Minister Mohammed Al Rumhi told Al-Watan newspaper. 02.04.2020, Sputnik International
2020-04-02T07:58+0000
2020-04-02T07:58+0000
2022-11-15T14:19+0000
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Omani Oil Minister Expects Oil Price at $30-40 Per Barrel in Q4 of 2020
07:58 GMT 02.04.2020 (Updated: 14:19 GMT 15.11.2022) DOHA (Sputnik) - Oil prices could be at $30-40 per barrel in the last quarter of this year, Omani Oil Minister Mohammed Al Rumhi told Al-Watan newspaper.
"The return to the oil price growth depends on many factors, including the suspended spread of the coronavirus and the possibility for OPEC to return to the negotiating table and agree on the stabilization of the market and reducing oil output, so oil prices in the last quarter of this year may fluctuate between $30-40 per barrel," Al Rumhi said.
Oil prices halved since early March due to the expected demand slump after the breakup of the OPEC+ oil output cut deal and amid the coronavirus outbreak.
After OPEC+ states failed to agree on further output cuts, market analysts began to predict a "price war" between main exporters.
