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Brent is getting cheaper because of the analysts’ concerns

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Brent is getting cheaper because of the analysts’ concerns
January 22
09:00 2019

Oil is falling again due to the fears of reducing the global economic growth.
The March contracts of Brent have fallen by 0.8% to the value of $ 62.2 per barrel of “black gold”. Yesterday, the price was $ 62.7. Futures of crude oil WTI with the delivery in March have slipped by 0.7% to $ 53.4.

The IMF has changed its forecast for the global economic growth, reducing the value of this parameter to 3.5%. Previously, the figure was projected at 3.7%. According to the IMF, in the future the growth will be 3.6%.
The rise of the emerging markets was estimated at 4.5% in the past year and 4.9% -in the due year. The growth rates of the Chinese economy have remained the same – 6.2%.

Earlier, China reported a decrease in the growth of the gross domestic product in 2018 to 6.6%. This figure is the lowest over the last 30 years. At the end of 2018, the growth fell to 6.4%.
Now there are no concerns about the supply reduction. At this time, the market worries about the demand and the level of its possible fall.

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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