The market is saturated, the price of oil is still low

On Friday, the price of oil is about the April lows. The oil market is oversaturated. The price of Brent is around the level of $ 42.62 per barrel. Previous closing was on 0.2% higher. WTI crude oil lost 0.3%. Now its price is $41.02 per barrel. The difference between the June and peaks in the current quotations of is approximately 20%. Analysts believe that until the middle of 2017 the price of oil will remain in the range of $ 45-50 per barrel. Tentatively it will last until 2017.