Four -year minimum: the Russian Federation may be on the verge of default because of oil prices - the media

Trump's duty on goods from China in the amount of 104% came into force on April 9. The tariff increased by another 50% after Beijing refused to withdraw duties in response to US goods to the deadline set by Trump. The PRC stated that they would not be amenable to US blackmail after Trump has threatened to introduce an additional 50 percent tariff for Chinese goods if the country does not cancel a 34%fee.

Against the backdrop of the trade war, the price of Russian oil brands was for the first time in history, it fell lower than the upper limit of Western prices at $ 60 per barrel. At the same time, Saudi Arabia increases supply. The country was the initiator of a sharp increase in oil production within OPEC+. This position is a catalyst for price reduction. In May, oil production will increase even more - by 411 thousand barrels a day.

Analysts claim that this will lead to excess supply on the market, which means that the price will fall. Saudi may punish those who have not adhered to the oil production agreement under the OPEC and exceeded the stipulated quotas. Goldman Sachs's US Investment Bank already sees an "extreme" oil script below $ 40, Bloomberg reports.

Goldman Sachs analysts predict that Brent and WTI oil prices can fall up to $ 62 and $ 58 per barrel by December 2025, as well as up to $ 55 and $ 51 per barrel by December 2026. And this is still an optimistic forecast. Earlier, the flagship Russian oil of Urals fell to $ 50 per barrel. The fall of oil prices increased the pressure on the state budget of the Russian Federation. Oil gives 30% to the Russian budget.