What is price of oil in 2022

Forecasts for 2022 imply a gradual drop in the cost of oil due to excess supplies. The Russian expert on the stock market “BCS World Investments” Igor Galaktionov said in an interview with Prime Agency.

According to the Russian specialist, by the end of 2022, oil prices will decrease. However, the average annual level of its value will be held near the level of 71 dollar per barrel recorded in 2021. This forecast gives the hope that in the coming days oil does not rise in price.

At the same time, Galaktions called for no hurry with forecasts for reducing oil prices: US Ministry of Energy, published on December 15th, was aware of preservation of strong demand.

“The reserves of oil and petroleum products continue to decline, while the weekly supplies of fuel from American refinery reached a record 23 million barrels per day,” the expert emphasized.

The listed factors compensate each other, so next week Brent Brent can cost 72.5-76 dollars. In addition, the situation is influenced by the spread of “ohomikron” -Stamma coronavirus and the reaction to it in the world.