Rosneft admits an increase in oil prices to $ 120 per barrel by mid-2022

Oil quotes may reach $ 120 per barrel at the end of the first half of 2022, said Otabek Karimov, vice president of Rosneft. Thus, he commented on the forecast of Bank of America analyst Karen Kostanyan, who, during his speech at the forum, suggested that the price of Brent would rise above $ 100 per barrel in the first quarter of 2022.

“If we look at our forecast, we see that the price of oil at the end of the next half of the year may reach $ 120 per barrel,” he said during the International Forum of the Moscow Exchange (quoted by Prime).

In October, the head of Rosneft Igor Sechin cited estimates of other investment banks – Citi and Goldman Sachs, according to which “ultra-high prices for natural gas can create additional demand for oil in the amount of up to 1 million barrels per day, which will serve as an impetus for an imbalance similar to gas , and will “heat up” oil prices even more. In addition, the energy transition may lead to a decrease in investment in the industry, which may further aggravate the situation with a shortage of raw materials.

At the same time, the head of LUKOIL, Vagit Alekperov, said on November 15 that he did not expect the price to rise above $ 100 per barrel in the near future. In his opinion, the OPEC + countries will not allow such a rise in prices.

Dmitry Kozlov

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