US experts: OPEC delayed the rescue and oil prices will drop more in the coming period
February 2, 2016
Our economy / Agencies
CNN quoted by the Bank, "Goldman Sachs" that the Organization of Petroleum Exporting Countries "OPEC" attempts to reduce production and raise oil prices came too late.
The bank predicted lower oil prices once again to below $ 26 per barrel, and analysts said the company in a report to them on Sunday: "Affiliates OPEC producers has been delayed to stop a further decline in oil prices."
Analysts added that the situation would impose more time to show the effects of production outages in particular with inflation witnessed in the stock in the oil sector.
These uncertainties have led analysts 'Goldman Sachs' and other companies to lower crude oil prices by 6 per cent, on Monday, for a price of $ 31.75 per barrel.
Although this decline may be considered good news for American drivers, but the company warned of the bad consequences of the falling and rising investor appetite for oil stocks, such as the bankruptcy of the companies producing oil in addition to lower overall interest of the energy sector ratio, and the impact of all this on the developing markets such as Brazil.
Oil prices have risen sharply since January 20 / January, for a price of a barrel of oil to $ 34.82, a rise of 33 per cent compared with a price of $ 26.19.
At a time when Gulf source pointed to CNN to the intention of "OPEC" members to do what can to improve the market situation, but analysts in the "Goldman Sachs" not convinced, as they said in their statement: "We continue our vision that the cooperation coordinator to cut production is unthinkable and can the results turn to members by the end of it.