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  Wednesday, November 20, 2019
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Oil prices are likely to stay high for the rest of the year.
Oil prices are unlikely to drop appreciably on world markets by the end of the year, they will be ruling high, believe Russian experts. "I think the oil price may shoot beyond $60 per barrel by the year's end," says Yevgeny Sotskov, an expert with investment company Metropol. He says the principal motive behind high oil prices is "the markets' preoccupation with the dropping strategic inventories in the U.S." "I think the oil prices are set to grow in the next few months, but later on they must decline," believes Mr. Sotskov. Maxim Shein, head of the think tank of investment company BrokerCreditService, considers that "so long as demand is patently over and above supply, oil prices will be higher than historical averages both this and next year." "Different problems with deliveries from the Gulf of Mexico, and fears concerning their reliability may all lead to oil price jumps," notes Shein. In his view, price levels will depend heavily on three members of the world oil market - Russia, the Middle East, and Nigeria. "If some of these players act negatively on the market, this may force oil prices up to $60 per barrel. If things are stable, the prices may drop to $40 per barrel," believes Mr. Shein. "I think the oil prices will keep at a sufficiently high level - more than $45 per barrel on NYMEX," notes Konstantin Gulyaev, an expert of investment company Region. In his opinion, one should not expect "heavy downward adjustment on oil." At the same time, Mr. Gulyaev points out it is hard to forecast confidently that oil pri
Print Oil prices are likely to stay high for the rest of the year. Bookmark Oil prices are likely to stay high for the rest of the year.

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