Oil is significantly more expensive, gasoline for 40 crowns cannot be ruled out this winter. Russia and Sadsk Arbie are packing in times of high gas prices, not on the market the arrival of Irish and American oil

Brent oil price this afternoon the Central European time is growing significantly. For the first time since June 2018, prices reached 82 dollar for barrel, follows from the Bloomberg report. The reason for the sharp growth is the day of the decision of the OPEC cartel and its allies in the el Russia in no way accelerate her agreed pace msnho navyovn tby.

Representative of oil stt on one day they confirmed that in November the increase by 400 thousand barrel this. The market speculated that OPEC could agree with the Allies on a more significant increase in demand, especially in view of the ongoing energy crisis, there is a particular fuel in Europe a sti Asia.

OPEC and its allies take advantage of a situation where energy worldwide sharply hello, and avoid a steep rise in their oil revenues. These incomes land as Sadsk Arbie or Mask umon snze zaltat dry and sttnm budget, which arose there as a result of a pandemic and a related dramatic drop in oil revenues. At the same time, use the windows of baldness, when riding did not appear on the market clothing from rnu or USA.

rnsk clothing still under the sanctions of the US, and even though the Biden administration signals a certain warming relationship with Tehran, in fact to the loosening of strict policy of Washington, VI, the Trump administration began with it, will not happen yet. So don’t even think that rnsk clothing flowed to the world market. Limited strategic offer raw materials
pushes its price to the whole maximum.

Bidlin tai in the US cannot enter the market overnight. They reduced their production during the pandemic, when they were extremely low due to extremes oil price did not fill. OPEC and the Allies, therefore, now have nothing to do with navyovnm tby, despite the tracks clothing in five cities in the countries of its net importers, including R, it contributes significantly to further increased inflationary pressure. For the last week zdrail benzn
v R prmrn o zhruba 30 hal per liter, per piblin 34,20 crown per liter, oil then about a counterfeit, at 32.30. Benzn is in the R most expensive since 2014.

Given the policy of the OPEC cartel and its allies and its development
oil prices i gas a rise in the world market cannot be ruled out gasoline prices in R this winter and to 40 crowns per liter. But in particular, especially
United stty intensify its pressure on Riyadh to increase it and increase prices
oil pibrzdil. The question is whether Sadsk Arbie will be willing to succumb to this pressure and whether they will follow it, he gave the traditional tai in the ele s Russia.

Luke Kovanda, Ph.D.

Nrodn ekonomick rada vldy (NERV)

Chief Economist, Trinity Bank