If the conflict in the Middle East escalates further, the price of oil in commodity markets may rise above $150 per barrel. This conclusion was reached by World Bank analysts whose report was published. Online financial organization.
Researchers described three scenarios in which the situation on the markets could develop. For example, in the event of a major crisis in the Middle East that significantly disrupts oil supply chains, global oil supply could decrease by 6-8 million barrels per day.
Experts say, “As a result, oil prices may initially increase by 56-75 percent and reach 140-157 dollars per barrel.”
A milder crisis, similar in impact to the 2003 Iraq War, would reduce oil supplies by 3-5 million barrels per day and cause prices to rise to $109-121 per barrel.
And if the scale of the crisis is comparable to the consequences of the civil war in Libya in 2011, the decrease in supply will not be so great – the supply will decrease by 500 thousand – 2 million barrels per day. Prices will rise to $93-102 per barrel.
Previously recognizedSaudi Arabia may not increase oil prices for Asia for the first time in six months, he said.