HomeMediaLatest NewsOil prices are hidden: they will surprise everyone in January

Oil prices are hidden: they will surprise everyone in January

22 December 2021

Salikhov Marcel R. President, Principal Director on Economic Studies, Head of the Economic Department

Marcel Salikhov, Director of the Center for Economic Expertise, National Research University Higher School of Economics, gave a forecast to the Prime news agency regarding the dynamics of oil prices in 2022.

“I believe that a moderate decline in oil prices can be expected in 2022,” Marcel Salikhov says. The main reasons will be associated with the stabilization of demand dynamics and the recovery of production in the OPEC + countries by the third quarter, he believes.

The specialist notes that next year there may be a significant increase in supply from individual OPEC countries (Saudi Arabia, UAE and others). Iran may increase production if an agreement is reached with the United States. An increase in supply from non-OPEC + countries (USA, Canada, Brazil and some others) is also expected, the expert said. "All this will negatively affect prices," Salikhov says. "On the other hand, tightening monetary policy in many countries will suppress economic activity and affect interest in oil."

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