Brent crude could rise to $ 125 a barrel next year if China eases its Covid policies, Goldman Sachs said in a statement Monday, reported by Business Insider. Goldman's current Brent forecast for 2023 is $ 110, but there is a lot of upside risk due to possible supply disruptions in Russia, Libya, Iraq and Iran.
Morgan Stanley said in early October that oil prices would rise back to $ 100 a barrel faster than previously estimated and raised its price forecast for the first quarter of 2023 to $ 100 from $ 100. 95 per barrel. barrel.
Brent prices could easily exceed $ 100 a barrel again if supply losses from Russia approach 3 million barrels a day when the EU embargo on Russian crude oil imports by sea goes into effect next month. , thinks the International Energy Forum (IEF) based in Riyadh. According to the IEF, the largest international organization of energy ministers, the oil market could lose between 1 million and 3 million barrels per day of oil supply from Russia when sanctions take effect.
According to Warren Patterson, Head of Commodities Strategy at ING, the OPEC + cuts changed the bank's outlook for oil in 2023 from a previously projected surplus until mid-2023 to a year-round deficit. The relief for energy markets will not last long, Patterson said in an analysis last week, adding that ING currently assumes that with the EU embargo on Russian crude and products, supply from Russia will decrease slightly. more than 2 million barrels per day in the first quarter of 2023.
https://oilprice.com/Energy/Energy-General/Oil-Prices-Could-Soon-Break-100-As-Upside-Risk-Grows.html