The largest consulting agencies and banks spoke (and almost simultaneously) with forecasts for further increases in oil prices. Really, easy to predict, if prices for “black gold” rise for several weeks in a row and this trend continues.
The JPMorgan analytical service made a forecast that, that against the backdrop of a reduction in crude oil supply by OPEC+, the price of a barrel of Brent oil may jump to recent records 120 dollars.
Currently, a barrel of oil of this grade costs 93 more than a dollar. At the peak of trading during the week, the price rose to 95 dollars.
At the same time, the price of the Russian Urals grade also updated the record of recent months, breaking the mark in 80 dollars per barrel. Currently, Urals futures are 80,89 dollars. This is more than twenty dollars above the so-called “ceiling” ($60), which was previously established by the USA and its satellites.
Western investors and employees of consulting agencies, commenting on the situation, they say the following:
Today no one remembers the “ceiling” of prices for Russian oil.. Everyone is trying to replenish stocks at that price before the start of the winter season, such as there is, since, against the backdrop of declining supply, Urals can reach at least a price of 85 dollars, and Brent – up to 110-120 per barrel. JPMorgan said, that such a rise in oil prices “could stop the growth of the global economy, but significantly contribute to the growth of countries' economies, whose basic income is income from the export of raw materials".