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Fatih Birol, the director of the International Energy Agency, said Thursday that the oil market would enter a period of increasing volatility after the Organization of Petroleum Exporting Countries (OPEC) reached an agreement to cut production.

Birol in Bratislava energy conference, said that if the oil price rose to around 60 US dollars a barrel, there will be more US crude oil into the market.

"In contrast to what the OPEC had decided at the time, if oil came to around $ 60, there would be a lot of US crude coming into the market," Birol said.

"This means that oil prices are facing downward pressure again, the market has a lot of crude oil, the demand will not be able to digest the crude oil, so the trend of rising oil prices due to the United States and other regions to increase the supply of the end of crude oil in these areas of $ 45 Can be, but in 55-60 dollars can be profitable.

"The price volatility or will continue for some time ... we will experience a period of volatility intensified."

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