Prices for oil collapsed

Oil prices sharply collapsed about eight percent. This is evidenced by the data of the London Stock Exchange ICE.

As of 22:30 Moscow time, the cost of May futures for the Brent oil futures dropped to $ 62.5 per barrel, falling thus eight percent. April WTI brand futures fell to $ 59.3 per barrel, their drop was 8.1 percent.

Earlier, the International Energy Agency (MEA) predicted that the restoration of oil demand before the pre-crisis level would happen before 2023. However, there is a chance that demand will never restore to the indicators that were before the pandemic, due to the consequences of the crisis in combination with the transition to low carbon energy sources.

/Media reports.