Norwegian expert predicts oil at $ 10

US, WASHINGTON (ORDO NEWS) — Jarand Rystad, one of the leading oil analysts in the world, in an interview with the Norwegian business publication Dagens Næringsliv predicted a drop in oil prices to $ 10 per barrel.

The two main reasons, according to the expert, are the coronavirus pandemic and the “price war” of Russia and Saudi Arabia.

On Wednesday, March 19, oil from the North Sea already fell by 14% and cost $ 24.76. This is the lowest price since 2003. According to Ristad, the decline will continue, and soon a barrel of oil will cost from 10 to 15 dollars.

Ristad compared the current situation with 1986, when the financial and oil crises erupted and in addition there was a disaster in Chernobyl.

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