Oil prices at the lowest level since February 2021

Oil prices have dropped more than a dollar for barrel at the settlement, after the “OPEC+” alliance at the beginning of the week decided to accelerate the production rate, which expressed concern about raising the offer. Brent Ru Futures fell 1.7% to $ 60.23 a barrel, and the price of “West Texas” is also 2% to $ 57.13 a barrel. The two crude oil has registered the lowest level for them since February 2021, with the settlement. The “OPEC+” coalition announced on Saturday that oil production has started 411 thousand barrels a day from next June, which will accelerate the resumption of stop production, but it could also exacerbate the fall in crude prices. This increase reflects a similar step announced last month, when the sudden announcement of pom quantities equal to three times the size scheduled for Mayo led to a sharp drop in oil prices. The coalition led by Saudi Arabia and Russia began to withdraw from the production cuts that support prices, but at the same time led to the loss of “OPEC+” for market classes in favor of outside the coalition that increases production. As an indication of the continued growth of supplies from outside the coalition, the “Exxon Mobil”, “Chevron”, “Shell” and “Total Energy” enterprises maintained their investment plans with the announcement of the results of the first quarter last week, while “BB” was the exception. have. Investment banks reduce their expectations for prices. The oil saw a sharp decline in 2025 to reach its lowest level in four years, with the threat of trade war led by US President Donald Trump for global growth, and the undermining of investor confidence and the decline in energy demand. The fundamental shift in the “OPEC+” policy added a momentum of the continuous sales team, making oil among the worst performances during 2025, according to “Bloomberg”. The movement of the coalition to accelerate the rate of return to the market to the market caused the fear of the abundance of offer, which urged the major investment banks “Goldman Sachs” and “Morgan Stanley” to reduce their expectations for crude prices during the remaining period of this year and in the next year. ‘Goldman Sachs’ analysts, including Dan Strewinh, referred to the risks of oil prices caused by ‘high surplus energy and high recession risks’ despite ‘basic factors balanced between demand and supply in the immediate market.’ Analysts have lowered their expectations for the Brent -RU price by two dollars to three dollars a barrel during the current and next years, to reach on average during the remaining 2025 and $ 56 period in 2026. For the “West Texas”, the bank lowered its estimates to the average price per year. Morgan Stanley reduced his estimates of Brent prices during the remaining period of this year to $ 60 in the second quarter and $ 57.5 a barrel for the rest of the year. “We raised our expectations for OPEC’s supplies with 0.4 million barrels per day in the second half of 2025 and 2026, which improves our surplus estimates in the market,” the bank’s analysts, including Martin Ratis, said in a note. The bank expected the price of ‘Brent’ RU in the next year to vary between $ 55 and $ 60 a barrel.