Economist: Oil prices will range from (60-70) dollars during 2020
09:15 - 12/23/2019
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Economist Qusay Safwan said on Monday that there is a near-globally agreed rate that the price of a barrel of oil ranges between (60-70) per barrel, pointing out that the economic situation between China and America is moving toward reducing tension, confirming China's need for oil as a result of increased consumption in Commodity industry.
Safwan said in a statement to the "information", that "the Chinese-American tension indicates the possibility of giving some commodities exceptions from the US sanctions decision towards importing Chinese goods in various countries of the world, which means that there is an increase in the global consumption of Chinese goods."
He added that "the exceptions obtained by China led to a rise in oil prices, as the rise reached more than 66 dollars per barrel, and therefore there is a move away from tension and a reduction in the tension between Beijing and Washington."
He pointed out that "there is no opportunity towards increasing the global supply of oil, so that it leads to a decline in oil prices, especially with agreements between Turkey and Russia that will continue over the next 6 months. Therefore, there are no restrictions that lead to a decrease in oil prices, as there is an almost universally agreed rate The price of a barrel of oil should be between 60-70 dollars during 2020. 25 n ended