/ world today news/ For the first time since the fall of 2010, the price of a barrel of Brent oil fell below 80 dollars.
On the New York Stock Exchange NYMEX, the December futures of American light oil type WTI fell by nearly 1% – to 77.18 dollars per barrel.
On the London ICE exchange, December Brent North Sea crude oil futures fell 2.3% to $79.82 per barrel. The leveled price anti-record of 2010 was a landmark stage of the collapse in the prices of black gold over the past few months.
“The world economy will collapse if the price of oil falls below 80 dollars per barrel,” Russian President Vladimir Putin said recently. Now it remains to be seen whether this will actually happen or if the depreciation is just part of an economic-financial cycle that has happened before.
The main reason for the drop in prices is the increased supply on the market. Which, in turn, is due to the settled oil production in the USA through fracking and the return to the game of traditional exporters such as Libya, Iran and Iraq, in which for one reason or another in the last year or two production was greatly reduced.
The International Energy Agency predicts that over the next quarter century oil production will increase to 104 million barrels per day, but this will depend largely on the situation in the Middle East.
Experts predict that by 2040, global oil demand will increase by 37 percent, and by 2030, China will overtake the United States as the world’s largest oil consumer.
London / Great Britain
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