The expert predicted a decrease in oil prices

Oil prices fell sharply in April due to a combination of factors, including the effects of the trade war initiated by US President Donald Trump, an accelerated increase in OPEC+ supplies, and growing expectations of a glut in the market. Evgeny Shatov, partner of Capital Lab, told Izvestia about this on April 29.

"The decline in Brent crude oil prices exceeded 12%, which was the most serious monthly drop since 2021," he said.

According to him, negative pressure on prices may increase after the meeting of OPEC+ countries on May 5, where supply plans for June will be discussed.

"Another increase in production is possible, which will further affect the market," the expert said.

Demand is also showing signs of slowing down: manufacturing activity in the United States is declining, and China's economic growth remains questionable due to trade conflicts. In addition, negotiations between Washington and Tehran may ease sanctions against Iranian oil.

"These factors indicate a further decline in prices. The cost of a barrel of Brent may drop to $63-66," concluded Shatov.

Barrel boost: oil ended the week with a five percent increase

How stable is the trend and what does it mean for Russia?

Olga Veretennikova, vice president of the Borsell analytical company, told Izvestia on April 4 that the sharp drop in oil prices was due to tariffs imposed by US President Donald Trump, as well as retaliatory measures from China.