Oil Prices Began to Fall Before the New Year
As of 14:40 Moscow time, the price of March futures for Brent crude oil fell by 0.8%. Thus, the price per barrel was $ 78.8. While the price of February futures for WTI fell by 0.88%, to $ 76.31.
On December 24, Deputy Prime Minister of the Russian Federation Alexander Novak expressed the opinion that in 2022 the oil price could remain at the level of $ 75 per barrel with the possibility of fluctuations around 10%. He noted that the growth of the world economy and the demand for oil contribute to such a price.
On December 7, Lukoil vice president Leonid Fedun said that the oil market will be protected from high volatility in the coming year thanks to the OPEC + deal, so oil will cost about $ 60-80 per barrel in 2022. According to him, OPEC + "ensures balancing" of oil production, but the world is facing the threat of a shortage of reserves.
The next OPEC + meeting will be held on January 4, at which the alliance must decide on the further parameters of the deal. According to the current agreements, the alliance is increasing production by 400 thousand barrels per day every month.