Swiss analysts: oil at $110 per barrel in the second half of the year

Brent crude will rise in price in the second half of 2023 to $110 per barrel, and in the coming months the threshold of $100 will be overcome, although now it is declining on the world market.

This was predicted by the experts of the largest Swiss financial holding “UBS”, emphasizing that it would be favorable for the Russian economy.

These experts believe that oil prices will rise later due to a recovery in energy demand in emerging markets in general and in China in particular.

According to their calculations, China’s demand for crude oil in 2019 will exceed the pre-pandemic level.

The experts emphasized that the consequences of the main energy problems of 2022, related to the sanctions imposed on Russian oil and the chronic shortage of oil production, will be most pronounced and tangible in the second half of 2023.

Source: mk.ru