Oil prices are correcting downwards.
Pressure on quotes is exerted by the expectation of a recession in the US economy, predicted by US Federal Reserve officials at the last meeting, as well as the probable postponement of the pause in tightening monetary policy from the May meeting to June. Currently, most experts are inclined to believe that next month the regulator will raise the interest rate by 25 basis points and only after that will consider keeping it at a constant level. The negative dynamics are supported by statements by Russian government officials, according to which the country will be able to ensure stable oil production until 2025, despite Western sanctions. Also, it is planned to build several large oil storage facilities in Russia, which will be able to provide flexibility for oil export in unstable market conditions.
Pressure on quotes is exerted by the expectation of a recession in the US economy, predicted by US Federal Reserve officials at the last meeting, as well as the probable postponement of the pause in tightening monetary policy from the May meeting to June. Currently, most experts are inclined to believe that next month the regulator will raise the interest rate by 25 basis points and only after that will consider keeping it at a constant level. The negative dynamics are supported by statements by Russian government officials, according to which the country will be able to ensure stable oil production until 2025, despite Western sanctions. Also, it is planned to build several large oil storage facilities in Russia, which will be able to provide flexibility for oil export in unstable market conditions.
