Two days after the OPEC+ Oil price, the price of oil again dropped below $ 30 per barrel

The price of Brent oil has fallen by almost 7%, dropping below $ 30 per barrel - for the first time since the conclusion of the record OPEC+.

Brent oil at auction in London on Tuesday lost almost 7%, dropping to $ 29.56, WTI fell into 9.5% - to $ 20.29 per barrel.

The OPEC+deal, about which its participants agreed with great difficulty on Sunday, managed to keep the market from a deeper fall, but did not unfold it. On April 12, OPEC+ signed an agreement on reducing production by 9.7 million barrels per day - the market doubts that this will be enough to remove excess oil from the market and compensate for the fall of demand in the world.

Read also “historically, but not enough”: the OPEC+ deal could not raise the price of oil

The markets are pressed on the market as deep in the last 100 years of recession, writes Bloomberg. The IMF today made a forecast in which in the basic script the world economy will fall by 3% in 2020 (the previous forecast expected to increase by 3.3%) and for the first time since the great depression will be in the minus both developed and developing economies.

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Another reason is that the OPEC+ transaction on the global reduction in production will actually enter into force only in May, Bloomberg notes . In addition, it is still unclear how manufacturers in the USA will behave. On Tuesday, the Texas oil regulator should discuss possible prey restrictions with oil industries, but KPMG analysts doubt that such a decision will be made, the agency writes . Texas mines more than any OPEC member, except for Saudi Arabia. But, most likely, the American authorities will leave the issue of reducing production at the discretion of oil companies.