Sector head of energy Department Institute for energy and Finance Yury Rykov has estimated dynamics of oil prices.

  • Reuters

“In the first quarter the decline in demand due to the spread of the coronavirus was felt not very strong: in January and February demand is still somehow supported the oil prices. And now we begin to feel the effects, resulting from reduced demand due to the coronavirus,” said he in an interview with radio Sputnik.

According to him, despite the renegotiation of the deal, OPEC+, for some time the price will continue to decline, although very unlikely.

As experts predict on for about of month prices may remain at a low level and then gradually begin to recover.

Previously senior analyst of the national energy security Fund Igor Yushkov in an interview with FAN commented on OPEC reached+ agreement to reduce oil production.