'Oil has become too expensive'

- The prices of Brent and WTI oil are rising this year, oil cartel OPEC is screwing production back hoping for higher tariffs. But the futures prices are far too high, according to analyst Nitesh Shah, raw materials specialist at ETF Securities.

The price will drop this year from the current state at $ 70 to $ 60. That opinion differs from the market. The consensus among experts is that the oil price will continue to increase.

The American Energy Information Administration reported Thursday a decrease of the stock with 6.8 million barrels. Then, WTI oil declined by 0.7%, Brent oil lost 0.8% to $ 68.80 per barrel.

The tensions surrounding oil producer Iran, and the large stocks in the United States of cheaper fuels from shale, do express sentiment, Shah acknowledges.

'But if you look beyond the headlines of messages, we see that stocks have increased with fuel,' said Shah. American production will be able to rise to the highest point this year.

With the already high prices of currently around $ 70 per barrel of 150 liters, there is every reason for OPEC members to stop the current production of 1.8 million barrels less per day prematurely, according to the analyst of the raw materials house in London.

The economic recovery, with more demand, the price at current stocks simply can not rise, says Shah.