Posted: 27.01.2023 10:47:00

Expert explained what will determine further oil price growth on world market

It is difficult to make an accurate forecast regarding the growth of oil prices at the moment, since it depends on several factors, including how quickly China will come out of lockdown and the volume of recession in the global economy among some leading energy buyers – as noted by political expert Vadim Borovik in his talk with the STV TV channel


Speaking of the further increase in the price of Brent crude oil, the expert noted, “No one will give an absolutely accurate forecast. There is a very serious variability, and it depends on a number of factors: China’s coming out of lockdown, recession volumes, and whether the latter will be observed in the world economy among some leading energy buyers. It also depends on how the Russian Federation will build its logistics. The main thing is to ensure payments for energy resources. In addition, it depends on the discounts Russia will have to offer. All these play a role, and – in this regard – it is important for Russia today that oil and gas prices do not fall below the limit that ensures a minimum federal budget deficit. This is the most important task.”