2024-04-12 14:27:09
Acting Director of Trade at SOCAR Trading (SOCAR trading house) Tagi Tagizadeh believes that geopolitical risks strongly influence OPEC negotiations stall”>oil prices and the supply of oil on the world market, Day.Az reported on Friday with reference to SOCAR Trading.
“The oil market is expected to remain tight in the short term due to conflicts in the world, geopolitical pressures and logistics disruptions. There are many unknowns (for crude oil),” said Taghizadeh, who attended the meeting this week world trading companies in Lausanne.
However, he acknowledged that OPEC “has done a good job of managing oil prices over the past few years.”
“OPEC may be interested in acting in accordance with maintaining the world oil price at an average of 90 US dollars per barrel. They have achieved success, and I see no reason why they should not continue this trend as a group,” Taghizadeh said .
In general, the majority of world traders believe that this year the price of oil may be at the level of 85-100 dollars per barrel.