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Crude oil price to hit $90 per barrel in 3 months

As the prices of crude continue to leap, due mainly to shortages in the United States and recovery from the coronavirus pandemic, experts have predicted further rise to $90 per barrel, from $78 in the global market.

An energy analyst with Goldman Sach Group, Damien Courvalin, said: “While we have long held a bullish oil view, the current global supply-demand deficit is larger than we expected, with the recovery in global demand from the Delta impact even faster than our above-consensus forecast and with global supply remaining short of our below consensus forecasts.

“Brent could hit $90 a barrel by year-end as the market is in a bigger deficit than many realise….”

PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s shares are listed on the London AIM and Dublin ESM Markets.

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