The oil is disrupted to $ 60 a barrel with the growth of global recession fears – XOM: XOM

Last week, the price of crude oil in WTI recorded his largest weekly loss after two years after the president Donald Trump It announced a group of the most striking customs tariffs, which led to the rapid revenge of China, the world’s largest oil importer.

Futures in adult dioxide fell on Monday to a little more than $ 60 a barrel, the lowest level since April 2021, as it comes to the fact that the escalating trade war can slow the global economy and weaken energy demand.

Economists in Goldman Sachs posted a memorandum on Sunday night raising expectations of recession from 35 % to 45 %, noting the sharp tightening of financial conditions and an increase in uncertainty in politics.

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Goldman SACHS power analysts, followed by more oil expectations at the end of the year to $ 62 a barrel for the BRNT program and $ 58 for WTI, with an additional negative aspect in 2026. Analysts have noticed recent GDP discounts and “American economy” expectations.

In addition to pressure on oil prices, last week, eight OPEC oil producers+ announced nearly three times the expected production increase to 411,000 barrels per day against the expected increase of less than 140,000 barrels per day next day.

At a price of $ 60 a barrel of crude in the viniteo, prices fell to less than a $ 65 threshold set by the Federal Reserve in Dallas as a point equivalent to the blind pelvic operators like Chevron Corp. CVX And Exxon Mobil Corp. Xom.

However, the Minister of Energy Chris Wright He recently said that the American rock sector is able to increase oil production even if prices drop to $ 50 a barrel.

In the latest quarterly poll of the Federal Reserve Bank in Dallas, leaders in the oil and gas industry expressed his frustration with the Trump administration.

“The chaos of the administration is a disaster for commodity markets.” Drilling, child, drilling “, no less than legend and crying for crying. The tariff policy, is impossible for us to predict and have no clear goal. We want more stability,” said one of the executives for exploration and production.

shares Oil Fund in the United States USO ETF, which follows the immediate price of WTI ore, decreased nearly 15 % over the past week. At the time of publication on Monday, WTI raw company was trading at $ 60.90 a barrel.

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