Bloomberg: speculators can crash the price of oil to $15

Bloomberg: speculators can crash the price of oil to $15

Most of the players in the oil market played down. According to the new York Mercantile exchange, traders buy the contracts that will pay off even if you drop oil prices to $15.

MOSCOW, 23 Dec –. Oil speculators buy up contracts that will bring profits only in case of a collapse of oil prices, reports Bloomberg.

Most of the traders plays a down in the background of the December decision of the OPEC on increase in quotas on oil production. Additional negative factors are the possible return of Iran to the market and increase production volumes in a number of countries, including Russia.

At Goldman Sachs believe that in 2016 the excess supply on the global oil market will remain. According to analysts of the investment Bank, there is the risk of falling oil prices to $20 per barrel.

Referring to the data on the new York Mercantile exchange (NYMEX), Bloomberg wrote that investors buy options, which are designed for $30, $25, $20 and even $15 per barrel. Volume of contracts for delivery of oil in December 2016, which will pay off in the fall of oil below $15, is insignificant and amounts to 640 thousand barrels.