Saxo Bank says oil prices may exceed $100 in Q12022

Crude oil prices may exceed $100 per barrel in Q1 of the next year, Saxo Bank's Investment Director Steen Jacobsen said.

Report informs, citing angi, that the technical committee of the OPEC + group predicts an increase in oversupply in December 2021 - the first quarter of 2022. Among the factors of price growth, industry analysts highlight the coordinated production of crude from the strategic oil reserves of the United States, China, India, Japan, South Korea, and the United Kingdom, and also the emergence of a new strain of coronavirus.