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Forecast oil to collapse to $ 30 per barrel - experts

on Sat Aug 29, 2015 4:05 am
Forecast: oil could fall to $ 30 a barrel. Reasons - the stabilization of the Middle East and Iran's access to the global market. This was announced by director of the initiative group on Energy in Houston RICE University, Charles McConnell, transfers "RIA Novosti".

According to the forecast, the fall will occur within 3-6 months. Then, within a year the price could rise again.

"In the long term of 3-6 months, the cost of a barrel of oil could fall to the price of 30 dollars. A major disruptive factor in this process will be the stabilization of the Middle East, the output of new players in the market. That would entail a further increase in the supply by some countries, which seek to capture a niche market, "- said the expert.

"But, at the same time, probably in the next twelve months, the oil market will stabilize at around 50-60 dollars per barrel", - says McConnell.

At the same time, according to expert estimates, world prices for "black gold" may continue to decline, as a glut in the market will continue until the end of 2015.

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