In the Kremlin commented on the collapse of prices in the oil market

“With regard to pandemonium with futures, it is absolutely a speculative moment, a purely trading point, which was associated with the date of the close of trading on futures in may. And of course it doesn’t need to give some kind of apocalyptic coloring”, — commented the press Secretary of the President Dmitry Peskov collapse in the price of oil may futures, which occurred on April 20.

According to Peskov, reports “Interfax”, all the experts understand that what happened is not a reason for “unduly negative assessments of the current reality”. “The situation is unpleasant”, yet he admitted, but advised her not to associate “with the current dynamics of change in oil prices today.”

The representative of the Kremlin assured that the Russian authorities have all the necessary reserves to dampen the negative impact of the situation, and all these reserves have to be involved”, — said Peskov.

We will remind, the collapse of WTI prices in the negative area due to a General crisis in the oil market, where there is a record oversupply, and announced a reduction in OPEC production+ has not begun. The lack of available storage tanks in the United States will continue to have a negative impact on prices. According to Bloomberg, the tanks in Cushing are full in the first week of may. The US President Donald trump said Monday that falling of the prices is “short-term phenomenon,” and oil prices “in about a month will be at the level of $25-$28 per barrel”.

© 2020, paradox. All rights reserved.