Lack of investment in the oil industry can lead to an increase in the price of black gold to $ 100 per barrel.
The option, in which the commodity markets will record a significant increase in oil prices in 2-3 years, is quoted by Rossiyskaya Gazeta. According to experts, the reason will be the lack of investments in the industry: the volume of investments has been declining since 2015.
Due to the crisis caused by the spread of the coronavirus, many large oil companies have reduced their exploration and development costs. Since their development takes a long time, enterprises run the risk of not having time to adjust to the market when demand fully recovers. This will create a shortage of oil, which will drive prices up.
The production of oil and petroleum products in Russia has not yet reached the indicators that were demonstrated before the start of the pandemic, it was reported earlier.