REUTERS/Lucy Nicholson/File Photo
By the end of the year the price of oil may again exceed $ 100 per barrel. To such conclusion the major oil traders. The reason for the jump in prices will serve the anti-Iran sanctions and the crisis in Venezuela.
The US plans in November to impose new sanctions against Iran’s oil market will lose half a million barrels a day and OPEC+ is not going to increase production to compensate for the lack.
“All the attention is now focused on the OPEC. What will be her reaction. Trump actually drove himself into a corner. The United States imposed new trade tariffs and sanctions against Iranian oil exports take effect November 4, raise the price of oil. In response, trump asks OPEC to increase production, but now says nothing in favor of the fact that Saudi Arabia is ready to such succession of events“, – said the expert Kent Moors.
On Sunday, the OPEC Committee+ at the meeting in Algeria did not consider the growth of production over 1 million barrels per day, but instead warned about the possible return to the limitations in 2019.
The last time the price of oil exceeded $ 100 per barrel 4 years ago According to OPEC, in the next year, the market scenario could be repeated in 2014, when excess reserves dropped oil prices.