News of black gold

Oil prices may repeat the collapse of 2014. This opinion was reached by experts of the International Energy Agency. The main threat is the rapid growth in production in the United States, as well as in other countries that are not part of the agreement to limit production.

In the IEA note that the States have already bypassed the volume of production of Saudi Arabia, and by the end of this year they can catch up with Russia. Thus, the increase will be greater than the increase in consumption.

In the meantime, oil reserves in the US continue to grow. According to the American Petroleum Institute, for a week they grew by almost 4 million barrels, and gasoline - by more than 4.5 million barrels.

This is the third week in a row, when there is an increase in oil and oil products. A week earlier, the US Energy Ministry reported a record increase since September of total inventories. All this is already affecting quotations. The barrel of the Brent mixture fell below $ 63, although it literally cost more than $ 70 two weeks ago.