Market experts fear that oil prices may drop significantly next year. The main reason for this scenario is the possible cancellation of OPEC+ current production restrictions. Some analysts, based on forecasts of relatively weak growth in oil demand, believe that the complete lifting of restrictions will lead to a sharp drop in prices, possibly up to $ 40 per barrel. This is more than 40% below current levels. Such a situation, according to experts, can provoke a price war between manufacturers, similar to the one that was observed during the pandemic. At the same time, many analysts believe that OPEC+ is likely to adhere to a gradual lifting of restrictions, rather than a sharp transition to maximum production volumes. The oil cartel has recently shown discipline in complying with voluntary production cuts. In September, OPEC+ postponed the planned gradual increase in production for two months to support oil prices. In early November, the alliance decided to postpone the increase in production for a month again. Today, Brent crude futures reached $72.50 per barrel, while WTI rose 0.40% to $68.75 per barrel.
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