Date: 4 months ago   Category: Markets

Saudi Arabia has prepared for the end of an oil era


Saudi Arabia studies possible consequences of disintegration of the Organization of the countries — exporters of oil (OPEC), The Wall Street Journal with reference to sources reports. According to interlocutors of the edition, fears about possible falling of global demand for oil are the reason for a research of a question owing to what the cartel will cease to play a former role in the market. The analytical center KAPSaRC (King Abdullah Petroleum Studies and Research Center) has reported that the research isn't connected with criticism of the USA to cartel, however have noted that this position will be considered anyway. "In the kingdom understand that demand for oil can't last eternally. Besides, NOPEC can't be ignored in any way" — I have told the edition a source in Riyadh. During the exchange auction on November 9 the cost of Brent oil has fallen lower than 70 dollars for barrel. WTI crude oil also becomes cheaper — the cost of barrel fell lower than 60 dollars. It is more than important news in Film of Day Telegram-channel. Subscribe!

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