In an interview with Boolmberg Russell Hardy, the Director General of one of the largest oil traders in the world – Vitol, predicted the rise in oil prices above $ 100 per barrel in the next six or nine months, reports “Prime”.
“Oil prices can be set for a long period above $ 100 per barrel for the next six-nine months, this year the world will establish new demands in demand. The market will become closer, by the end of 2022 daily consumption will significantly exceed the levels to the end of 2022. Pandemia, “said Hardy.
According to him, the result is the jump in oil prices, which feeds the inflation splash.
Regarding petroleum products, Vitol predicts a decrease in gasoline consumption in the US for about 400 thousand barrels compared with February 2019: “We still think that it affects work from home. People do not go to the station, they do not go to work. “
“The supply of oil in the market is growing, but not as quickly as need to consumers. OPEC + gradually increases production, and a nuclear transaction with the United States can allow Iran to extract additional 1 million barrels per day, but these deliveries are already taken into account in the second Half a year, “said Hardy.