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Apr 24, 2022
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Oil prices may fall by the end of this year


Oil quotes may fall by the end of 2022, writes REGNUM.

Global demand for black gold continues to exceed supply, despite the fact that due to China’s quarantine, the deficit has slightly decreased. At the moment, all forecasts for the total demand for this type of fuel in the world are deteriorating. Along with this, OPEC+ production is slowly but surely growing.

In addition, in the second half of the year, shale explorers in the United States may become more active. That is why the most likely scenario now seems to be lower oil prices by the end of this year than is observed at the moment.

Nigeria intends to increase the volume of oil production determined by OPEC within two weeks due to the launch of previously shut down wells. This was stated earlier by the Minister of Finance of the country, Zainab Ahmed.

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