Oil prices, especially for Brent, could rise to $150 a barrel due to the West’s ceiling on Russian fuel prices. About this TASS declaration Kyle Szostak, director of the American investment firm Navigator Principal Investors.
“The Brent brand may rise to $110 a barrel, but the ceiling price of Russian oil may push the price even higher, to $150 a barrel, especially as production declines,” Shostak said.
According to him, in the short term, Russia’s income from the restrictions will not change in any way. The thing is, Russia still has many opportunities to sell oil.
He added that Russia is now purchasing a fleet of its own oil tankers to cope with the growing demand for the east. Therefore, new supplies from Russia will help Asian countries cope with fuel shortages against the fact that oil from the Middle East and Africa goes to Europe.
Earlier on Saturday, Ivan Grachev, Principal Researcher of the Central Institute of Economics and Mathematics of the Russian Academy of Sciences, declarationHe said that the mechanism to limit Russian oil prices to $60 per barrel introduced by Western countries will not lead to a reduction in export supply and raw material production in the domestic market in 2023.