Saudi Aramco Raises June Oil Prices
According to the agency, an increase in prices for Saudi oil gives the market a signal of signs of improving demand for oil. So, the June prices for deliveries to Asia increased by $ 1.4 per barrel, now the discount to the standard has dropped to $ 5.9 per barrel. The market really felt optimistic about demand, said Raiffeisenbank analyst Andrei Polishchuk. "This is evidenced by the increase in Brent prices to $ 30 per barrel, investors are responding to news about the lifting of quarantine measures in China, Germany, Austria and other countries", he said.
Nevertheless, the expert believes that the current trend cannot yet be called stable, since world oil reserves will continue to grow, despite the operation of the OPEC + agreement. "Our forecast for the third quarter of 2020 is an average of $ 35 per barrel", he concluded.