Forecast: Oil prices to fall to $70

19.01.2022,12:23


January 19, Fineko/abc.az. Oil quotes will drop to the level of $65-70 a barrel in the 2nd half of 2022 amid an increase in shale oil production in the U.S.

ABC.AZ reports with reference to analysts of Norway’s consulting company Rystad Energy.

At that, company's analyst Viktor Kurilov admitted that the price of oil could rise to $100 a barrel in the near future, subject to additional negative events on the supply side.

The current rise in oil prices is a consequence of many events that occurred at the end of 2021 and at the beginning of 2022. So, Kurilov linked the current increase in quotations to $88 a barrel with the drone attack on the airport and the UAE oil structure by the Yemeni Houthis.