Russian tycoon predicts oil price crash ...News

Russia Today - Economy
Russian tycoon predicts oil price crash
source : Russia Today ( News ) () 27
Crude will shed 20% of its value this year, Oleg Deripaska warns Global oil markets are heading for a crash that will slash 20% off of the crude price this year, Russian businessman Oleg Deripaska predicted on Tuesday. The tycoon’s warning comes after oil prices fell by about 4% on Monday on sharp price cuts announced by top exporter Saudi Arabia for exports in February. Oil has since rebounded, with the WTI benchmark trading at $72 per barrel, and Brent at $77.4 as of 14:00 GMT on Tuesday. “Cheaper oil, which will fall by another 20% on the global market this year, will be a good help in fighting inflation,” Deri

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