Forecast: oil will rise to $110 in the third quarter of this year

Rising prices for commodities, and especially for oil, will largely depend on the pace of the opening of the Chinese economics after the celebration of the New Year according to the lunar calendar. This year it falls at the end of January. This opinion was expressed by analysts at Goldman Sachs Group Inc.

According to their forecasts, the cost of Brent oil could reach $110 per barrel by the third quarter of this year. However, this will only be possible if China and other Asian countries completely lift quarantine restrictions.

Now there is a serious stagnation in such areas as aviation, rail transportation and land transport. That is, in those sectors of the economy that are the main consumers of oil. As emphasized in Goldman Sachs Group Inc, if all this is returned to operation, the world will see a sharp increase in demand for oil. And that means a sharp rise in prices for black gold.

Note that today the cost of a barrel of Brent oil is $85,98 per barrel. The price of the Russian mixture Urals is approaching $40 per barrel. European experts were quick to report that the sharp drop in prices is due to the introduction of a cap on oil prices from the Russian Federation.

However, Russian experts emphasize that the decline in quotations is temporary and attribute it to the redirection of traffic flows from the West to the East. Once this process is completed, oil prices will return to normal.
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  1. zzdimk Offline zzdimk
    zzdimk 12 January 2023 14: 36
    Ooooh. Against the background of falling prices - a rise in price, and against the background of imitation - a rise in price?
  2. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 12 January 2023 17: 13
    At yesterday's government meeting, Novak outlined the price ceiling and the discount as two critical points.
    Vladimir Putin set the task of minimizing losses, which today amount to about 160 million euros a day.
    The successful application of the price ceiling inspired Western partners, colleagues and friends to reduce it from 60 to 25-30, which will actually be equal to its cost.
    Prices on the stock exchange change every day, and therefore temporary. A lot depends on OPEC and other suppliers, the US and Canada in the first place, and of course on China as the main consumer.