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Jan 11, 2022
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Expert Galaktionov linked the rise in oil prices to events in Kazakhstan


The cost of oil has almost reached its maximum values, however, even the practically exhausted growth potential will not become an obstacle to its rise in price by $ 1-2 per barrel, Prime reports.

Expert on the stock market “BCS World of Investments” Igor Galaktionov noted that the situation in Kazakhstan may affect the price of oil. Due to the unstable situation in the country, there may be interruptions in the supply of oil. The cost of the Brent brand on January 3 was $ 77-79, and a week later it reached $ 82.

“The upside potential for the most part looks exhausted, although with the appearance of new drivers, a short-term jump up by $ 1-2 per barrel is still possible,” Galaktionov explained.

The expert believes that the rise in oil prices is caused by the continued high demand, a decrease in the supply surplus in the market in 2022 and interruptions in production in Kazakhstan, where protests and riots began from the beginning of the year related to the rise in the cost of liquefied gas.

High volatility will be observed in the global oil market in 2022, but OPEC + may intervene and stabilize the situation, said the head of Gazprom Neft, Alexander Dyukov.

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