According to the expert, a number of important events for the oil market are expected next week: the publication of data on commercial oil reserves in the US, the monthly OPEC report, and the Fed's decision on the interest rate.
“The last factor will most likely be the most significant for the oil market, the nature of the direction of movement may largely depend on the rhetoric (Chairman of the US Federal Reserve. -
RT
) Jerome Powell and forecasts for the state of the US economy.
The more hawkish the rhetoric is, the more chances oil prices will have to fall,” Milchakova said.
According to her, so far "the price has "hooked" on the support level of $76 per barrel."
“If next week all of the above factors are negative, the price may fall to at least $74 per barrel, and with very negative “surprises”, most likely associated with expectations of an oil surplus, it may even fall to $69 per barrel,” she declared.
Milchakova clarified that the price increase is possible up to $78-79 per barrel, if "the indicated risks do not occur and the factors listed above turn out to be neutral for the market."
Earlier, Director General of Dialot Investment Company, Chairman of the Commission on Financial Markets of the Moscow City Branch of Opora Rossii Yegor Diashov said that the introduction of an oil price ceiling would not have a huge negative impact on Russia.