Financial and business news from Bulgaria

Expert predicted a new major collapse in the price of oil

Yarand Rystad, one of the world's leading oil market analysts, in an interview with Norwegian business edition Dagens Naeringsliv predicted a drop in oil prices to $10 a barrel, Focus reports.
The two main reasons, according to the expert, are the coronavirus pandemic and the “price war” of Russia and Saudi Arabia. On Thursday, March 19, North Sea oil already fell 14 per cent and cost $24.76 per barrel.

This is the lowest price since 2003 According to Rystad, the decline will continue and soon a barrel of oil will cost $10 to $15.

The expert compared the current situation to 1986, when the financial and oil crisis broke out and, in addition, the Chernobyl disaster occurred.