Experts predict a rise in oil prices to $150 per barrel

After oil prices bottom out, investment in oil and gas sphere will be exhausted and the fuel cost will exceed $100 per barrel. This article reports The Wall Street Journal (WSJ).

In particular, the newspaper writes, so says the chief investment officer of hedge Fund Capital of the Northern Trace of Trevor woods. According to him, to this cost the price of a barrel of oil could be closer to 2025, despite the pressure on oil producers.

the Majority of analysts believe that in the long term, oil prices will rise to a level that allows the energy sector to benefit.

JPMorgan Analyst Christian fry I am sure that in the next two years, the price of a barrel of oil will rise to $100. Even more optimistic is the investment Director of London’s Fund Matilda Capital Management Richard Fullarton, who expects it will happen in the second half of 2020.

However, there are those who believe that the pandemic coronavirus fuel demand undermined and after the spread of the disease will be firmly established “the era of cheap oil”. As suggested by Citigroup analyst Edward Morse, the producers will be able to produce oil in more than sufficient quantity, but its cost will be at $50 per barrel. He believes that the pandemic fewer people will travel, which will significantly reduce the demand for aviation fuel, for example.

His colleague from Morgan Stanley Martin rat believes that when the demand for oil will be high, Saudi Arabia and other countries may require a larger market share, not maintain the price.

Forecasts of the Russian analysts, this is quite modest. So, Minister of energy Alexander Novak suggests that by the end of this year, the price of a barrel of Brent could rise to $40-45.

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