The cost of Brent’s grade oil can grow up to $ 100 per barrel, and soon enough – already by 2022. This is stated in the bank of america oil market, analysts of which have found at least six reasons for such developments, TASS reports.
three reasons are associated with demand, and three – with a proposal. At the first point, it is a deferred demand for fuel after Lokdanov, the predominance of private road transport over other types of transport, as well as remote operation of operation, which can grow into a “work from the car” format. This will increase the distance that people pass.
Growth increases may also contribute to an increase in the capital’s capital expenditures to achieve the goals of the Paris Climate Agreement. Investors began to increasingly affect the energy sector, shifting its development in a more “green” side.
In the basic forecast, Bank of America expects that in 2021 the price of a grade Brent will be $ 68 per barrel (previously $ 60), and in 2022-M – 75 dollars. In 2023, analysts see the most likely price of 65 dollars.
However, the organization does not exclude the opposite movement of quotations. In this side, the oil market can push the deterioration of the situation on the coronavirus and the withdrawal of sanctions with Iran, which will sharply increase the proposal. A separate factor remains the behavior of the United States, which can sharply increase production and undermine the efforts of OPEC +.
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.