Jakarta, CNBC Indonesia – The forecast for an increase in oil prices continues. This time the prediction was given by the Goldman Sachs institution.
The agency predicts high demand for oil in 2022 and 2023. A price of US$ 100 per barrel is a possibility.
Currently, demand for oil has reached record highs even though Omicron has put a slight brake on world activity. Mobility is already visible where air travel is believed to be recovering.
“We already had record high demand before this latest variant (Omicron), and there is added demand for higher jets and the global economy is still growing,” Courvalin said at an energy outlook briefing with reporters Friday (12/17/2021), quoted by Reuters. CNBC International.
“You see, we’re going to be averaging new demand records in 2022, and again, in 2023.”
International benchmark prices for crude oil Brent and crude oil United States (US), have soared above US $ 80 in recent months. European natural gas prices spike amid the opening of post- activity lockdown Covid-19 is the trigger for the world energy crisis, which has led to the revival of fossil fuels.
Indeed, the appearance of Omicron dampened the gains and pushed prices back to US$ 70 this week. But Courvalin expects restrictions plaguing air travel to be eased.
“Air travel has been slow to recover, partly because of Asia,” he said.
“We will have to wait for this wave to pass but it does suggest that international travel should recover further next year.”
In 2022, Courvalin said the price of oil might reach US$85, with the potential for another US$5 to US$10 per barrel increase. However, it can be pushed through the price of US$ 100 for two reasons.
First, costs rise as oil companies increase production. Another possibility is if oil supply cannot meet demand as the global economy opens up from the pandemic.
“There’s inflation, elsewhere in the economy, and finally there’s inflation in oil services,” he said.
OPEC+, which consists of the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, said it would meet earlier than its planned January 4 meeting if changes in the outlook for oil demand require review. OPEC+ has plans to increase supply by 400,000 barrels per day by January 2022.
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