Brent oil futures took off above 71 dollars per barrel for the first time from March 8, 2021. This is evidenced by the data of the London Exchange ICE.
As of 16:06 Moscow time, the price of the August futures Brent rose to 71.16 dollars (plus 2.6 percent). The cost of American oil WTI rose above 68 dollars per barrel, which became a record since October 2018.
The global oil demand in the fourth quarter of 2021 will exceed 99 million barrels per day, considers the Secretary Secretary General Barkindo. Such an indicator will return the market in the range of extrapendamic levels.
Goldman Sachs in May predicted the rise in Brent prices up to $ 80 per barrel in the fourth quarter of this year. Possible removal of sanctions from Iran is not significantly on quotes, analysts note.
The US sanctions that prohibit oil exports apply to Iran. However, on May 31, Tehran stated that he could sharply increase production up to 6.5 million barrels per day, which is twice the current level.