The oil price in the region of $ 75 per barrel is quite stable and may remain in the next year, said Deputy Prime Minister Alexander Novak, as quoted by the Prime agency.
“I would not clearly predict the numbers, but in general, it seems to me that the current levels that we see today, and they are quite stable, are $ 75 per barrel, plus or minus, there is a fluctuation in one and the other direction, plus or minus 10%, – it seems to me that next year these parameters may remain, “- said the Deputy Prime Minister in an interview with the TV channel” Russia 24 “.
Many analysts, according to Novak, predict continued growth of the world’s economies and an increase in demand. Oil producing countries will increase production. “Therefore, I don’t see any risks here that would lead to some serious deviations from the current levels,” the Deputy Prime Minister noted. According to him, in Russia, the growth of oil production in 2021 is expected at the level of 2.1% – up to 524 million tons. In 2022, this figure will grow to 540-550 million tons.
“As for Russia, we expect sometime by May to reach the levels from which we started before the reduction. Thus, next year our industry will produce more than in 2021. We expect somewhere around 540-550 million tons, ”the Deputy Prime Minister stressed.
On December 20, the price of the February futures contract for Brent crude during trading on the ICE exchange fell by more than 5.1% – to $ 69.75 per barrel. The February futures of the WTI brand fell in price by 5.6% – to $ 66.8 per barrel. As reported by Bloomberg, oil falls on news of the rapid spread of the omicron strain and the associated risks of new restrictions. Oil prices are also declining amid the fact that Democratic Senator Joe Manchin rejected US President Joe Biden’s $ 1.75 trillion economic plan, the agency writes. Following this move, economists at Goldman Sachs cut their forecasts for US economic growth. At the moment, the price of the February Brent crude oil futures on the exchange is $ 75.96 per barrel, and the WTI crude oil futures price is $ 72.80.
At the end of November, Novak said that Russia was secured with oil reserves for 30 years. Russian resources will remain in demand on the world market in the coming years, despite the global energy transition. Now Asia remains the main direction for increasing exports, the Deputy Prime Minister noted. So, according to him, the volume of oil exports to China has grown sixfold over the past 10 years.
.