The price drop is due to the slowdown of China’s economic growth and the reduction of energy demand, says Executive Director of the Frankfurt office of Goldman Sachs Asset Management.
MOSCOW, 14 Mar –. World oil prices have not hit bottom and could fall to $ 25 per barrel, but by the end of 2016 the price of black gold will reach 50 dollars, said the Executive Director of the Frankfurt office of Goldman Sachs Asset Management Sandra Grabenweger-Straka Austrian newspaper Kurier.
“The price of oil by the end of the year will stabilize and will be 50 dollars per barrel. During the year the price may fall to 25 dollars,” she told the publication.
The main reason of falling of the prices for oil experts associated with warm in winter 2014-2015, accompanied by a low energy demand and the economic slowdown in China and other developing countries.
Since the beginning of summer 2014 to early 2015, oil prices have fallen by more than half, from 115 to 48.5 dollars per barrel Brent. In 2015, the quotations did not rise above 67 dollars, and in 2016 they went down to 30 dollars per barrel.