Gazprom Neft expects oil prices to be in the range of $80–100 per barrel in 2024
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Chairman of the Board of Gazprom Neft (MOEX: GAZP) Alexander Dyukov presented the company’s forecasts for the oil price range for 2024. According to Gazprom Neft estimates, this year the price of oil will vary from $80 to $100 per barrel. Mr. Dyukov noted that now the cost of fuel is fair, there is no shortage on the market.
“In the range of $80 to $100 per barrel – this is most likely the price this year. But, again, it will depend on a large number of factors. At the moment, the market is balanced, we do not see a shortage of oil on the market. The oil market is balanced today,” said Mr. Dyukov (quoted by TASS).
Alexander Dyukov named the geopolitical situation in the Middle East as one of the factors that will affect the price of oil. Despite this, the current cost of fuel is fair, he added.
In mid-March, the price of Brent oil, after a four-month break, settled above $85 per barrel. The price of Russian Urals reached $73 per barrel. Yesterday, April 4, Brent went up in price to $91.16 per barrel. The rise in prices was facilitated by an imbalance of supply and demand, including against the backdrop of ongoing Houthi attacks on merchant ships in the Red Sea, which began against the backdrop of the war between Israel and Hamas.
Read more in the Kommersant article. “Petrodollars were delayed on the way”.
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