US banks were involved in the oil market, it threatens them with new, more stringent stress tests next year. This behavior further emphasizes the impact on price policy of crude oil not only in the energy sector but also in the financial. In its recent forecast the OPEC lowered expectations for oil demand, and announced that the price of crude oil can not return to the levels of $100 up to 2040.
Summing up the year, the OPEC in its forecast indicates a number of reasons, which hit the demand: energy efficiency, emission taxes, slowdown in economic growth. The price of crude oil on Tuesday updated the new anti-record for last 11 years and reached the level of below $36 per barrel. Thus pressure on banks has been increased, as more amount of loans granted to energy companies remains outstanding. The following year, the Fed is going to hold a series of stress tests with banks, that have assets from $50 billion, including their foreign divisions. The result will have to show their readiness to work in a deep crisis and severe storms in the financial sector.
To date, the price for oil is 55% below the levels of the stress tests, which the Fed established a year ago. The test will show which bank will cope with the collapse in oil prices by 68% at some point before the end of 2017. Several banks, including Wells Fargo, recently spoke about the risks associated with a decrease in oil prices, which could lead to the bankruptcy of oil companies and subsequent defaults on loans. "Now we have five times more oil companies threatened with bankruptcy than last year", - declared US regulators in November.