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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Oil prices are expected to rise to $125 this year

rocky
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Oil prices are expected to rise to $125 this year Empty Oil prices are expected to rise to $125 this year

Post by rocky Thu 13 Jan 2022, 6:12 am

Oil prices are expected to rise to $125 this year

  •  Time: 01/13/2022 09:38:32
     
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{Economist: Al Furat News} Bank (JP Morgan) said on Wednesday that it expects the surplus production capacity of the Organization of the Petroleum Exporting Countries (OPEC) to decline over the course of 2022, which increases the risks of a sharp increase in crude prices.
The US investment bank expects oil prices to rise to reach $125 a barrel this year and $150 a barrel in 2023. "We see a growing recognition in the market of weak global investment in supply," he said.
Oil prices hit two-month highs on Wednesday, supported by a supply shortage, as crude stocks in the United States, the world's largest consumer, fell to their lowest levels since 2018.
The bank said in a note that assuming production at the current quotas, the surplus production capacity of OPEC will fall to 4% of the total production capacity by the fourth quarter in 2022, from 13%, in the third quarter in 2021.
He added that the weak investment within the OPEC + countries and the increasing demand for oil after the pandemic may lead to a potential energy crisis.
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