Posted 11 января 06:42

Published 11 января 06:42

Modified 11 января 08:03

Updated 11 января 08:03

Analysts predicted the price of oil above $100 per barrel

11 января 2023, 06:42
Leading Wall Street analysts said there were signs of a jump in prices on the global oil market. In the coming months, rising prices for raw materials may lead to a cost above $100 per barrel.

If this happens, a weak global economy will be put at risk, and energy prices will come back to the top of the agenda of many governments, writes the Financial Times newsletter on energy Energy Source.

Recently, the oil market has been relatively calm compared to the jumps recorded last year. Prices have remained at $80 per barrel for the past few months. By historical standards, this is a high price, but it does not pose a threat to the global economy. Quarantine restrictions in major Chinese cities last year undermined the demand of the world's largest oil importer and helped to contain prices when supplies were limited.

- The only reason why oil prices did not stay above $ 130 per barrel is that demand in China has fallen, - stated Piper Sandler analyst Ian Stewart.

According to Jeff Curry of Goldman Sachs, "China's rapid movement to resume work" will add $5 per barrel to the investment bank's forecast of an increase in oil prices to $100. Beijing is experiencing an increasing need for crude oil, analysts believe that Western sanctions will begin to affect Russian production.

On the eve it became known that since November last year, China has been buying Arctic grades of oil from Russia "Varandey", "New Port" and Arco. The latter is a rare high-grained and dense variety of raw materials.