Analysts predicted oil growth up to 100 dollars

The preservation of oil production under the OPEC + agreement at current levels can provoke a rise in prices to 80-100 dollars per barrel. This is reported by TASS with reference to analysts.

It is noted that the rise in prices may continue on the background of the oil supply retained in July 2.3-2.5 million barrels per day.

According to Analytics Raiffeisenbank Andrei Polishchuk, if OPEC + will not decide on the increase in oil production, and the demand will continue to grow, then the prices will rise even higher.

If the production does not increase, then “due to the aggravating deficit, oil can step over $ 80 per barrel, but it is unlikely to keep it for a long time,” said the Senior Director of the Group on Natural Resources and Commodity Products of the International Fitch Rating Agency Dmitry Marinchenko.

Analysts note that volatility in the speculative market, which it is currently, can easily reach ten percent even in the absence of news. “Therefore, $ 80 is easy and even 100 dollars per barrel is real if demand is restored, and oil reserves will be reduced,” Polyshchuk emphasized.

An optional of oil costs to $ 100 in the near future seriously consider the largest traders. They expect that such consequences will lead to a slowdown in the industry and peak demand after a coronavirus pandemic.

Meanwhile, the Minister of Energy of Russia Nikolai Shulginov noted that he did not see the opportunity to talk about oil for $ 100 in the next three years.

/Media reports.