ACRA chief Suchov allowed Brent oil prices to remain unchanged until 2022. rise to 110 USD per barrel by the end
The head of ACRA, Mikhail Suchov, said that the price of Brent oil will rise until the end of 2022, RIA Novosti reports.
Suchov warned of rising prices for Brent oil and allowed the price to rise to $100-$110 per barrel. However, if new sanctions are imposed on Russian fuel (primarily the maximum price), this number will increase to $130-140. “Of course, our oil will not fully exploit these benefits, but it will not decrease,” he said.
At the same time, the head of ACRA said that Europe is unlikely to give up Russian oil completely. He recalled that several countries opposed such a decision. “… Uncertainty is seasonal energy demand, no one knows what winter will be like in Europe. Therefore, I cannot imagine a situation where the export of Russian oil to Europe would be completely stopped this year”, explained the analyst.
The expert also questioned the introduction of the maximum price for Russian oil.
“You can advertise anything, but from this ceiling the price will rise and the oil will flow through other channels: you will be misled, you cannot track all the plants. In friendly countries, deeper processing is possible; as a result, it is not oil that can be sold, but oil products. The world will still need to use a certain amount of oil and gas; there is no way to escape from it,” Suchov concluded.
Earlier, analyst Dmitry Skryabin called the global consequence of restrictions on Russian oil exports. In his opinion, the sanctions will lead to an increase in fuel prices.
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