Bank of America: "The average price of oil next year will be 100 dollars/barrel"

Bank of America: "The average price of oil next year will be 100 dollars/barrel"
In 2023, the average price of a barrel of oil on the world market will be about 100 US dollars.

Qazet.az reports with reference to RBC that this is stated in the report of "Bank of America", one of the largest investment banks in the world.

However, according to the document, any changes in the global balance of power, even slight ones, can cause strong fluctuations in the market.

According to the bank's analysts, commodity quotations in 2023 will be marked by "nervous" changes: "There will be an unstable equilibrium in the market that any strong player can easily disrupt."

"Parties such as OPEC, the United States, China or Russia may experience some difficulties. Additional uncertainty will be related to the expected recession in the global economy," the report said.

As for the results of 2022, it is reported that a barrel of "Brent" oil, whose price exceeded 120 dollars in the summer, is now sold again in the range of 76-77 dollars, and the oil market will end the year in these positions.

According to bank analysts, in addition to geopolitical tensions and sanctions games such as the establishment of a "ceiling" price for Russian oil, the global market will feel the effects of the accumulated problems from the coronavirus pandemic.