American bank giant Bank of America (BOFA) predicts that the average price of Brent’s oil in the next year will be $ 85 per barrel, said the Global Head of Research Research and Derivatives of the Bank Francisco Blanche.
“We believe that the average price of oil Brent will be $ 85 next year. This is our official forecast,” said Blanche during the Bank’s webinar with an overview of the energy market for 2022.
He noted that the risk of a surge price next year creates a low level of oil reserves, the restoration of the number of air transportation and the low level of free extractive capacities. Risk of price reduction comes from the possible appearance of new strains, the use of strategic oil reserves in the United States, as well as the weakening of the sanction regime of Iran.
He recalled that this year the average price of oil is approximately $ 70 per barrel. The lowest indicator was in January – 51 dollars, the highest – in October, approximately $ 86, writes 1Prime.ru.
“The global demand for oil recovered this year by almost 5.5 million barrels per day compared to last year, on average, a little higher than 96 million barrels per day … In 2022, we consider the demand will continue to recover – We predict that the average demand for oil in the world will be 100.5 million barrels per day, “also told Blanche about demand on the global oil market.