binance left Coinmarketcap net_left adver left
Detail

Oil prices could hit $100 as demand outstrips supply, analysts say

By Bozorgmehr Sharafedin LONDON (Reuters) - Oil prices that rallied 50% in 2021 will power further ahead this year, analysts predict, saying a lack of production capacity and...
Oil prices could hit $100 as demand outstrips supply, analysts say © Reuters. FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian

By Bozorgmehr Sharafedin

LONDON (Reuters) - Oil prices that rallied 50% in 2021 will power further ahead this year, analysts predict, saying a lack of production capacity and limited investment in the sector could lift crude above $100 a barrel.

Though the Omicron coronavirus variant has pushed COVID-19 cases far above peaks hit last year, analysts say oil prices will be supported by the reluctance of many governments to restore the strict restrictions that hammered the global economy when the pandemic took hold in 2020.

Brent crude futures traded above $84 on Wednesday, hitting two-month highs. [O/R]

"Assuming China doesn't suffer a sharp slowdown, that Omicron actually becomes Omi-gone, and with OPEC+’s ability to raise production clearly limited, I see no reason why Brent crude cannot move towards $100 in Q1, possibly sooner," said Jeffrey Halley, senior market analyst at OANDA.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are gradually relaxing the output cuts implemented when demand collapsed in 2020.

However, many smaller producers can't raise supply and others have been wary of pumping too much oil in case of renewed COVID-19 setbacks.

"We don’t want to see $100 a barrel. The world is not ready for that," Omani Oil Minister Mohammed Al Rumhi was quoted as saying by Bloomberg on Tuesday.

Morgan Stanley (NYSE:MS) predicts that Brent crude will hit $90 a barrel in the third quarter of this year.

With the prospect of depleting crude inventories and low spare capacity by the second half of 2022, and limited investments in the oil and gas sector, the market will have little margin of safety, the bank said.

Standard Chartered (OTC:SCBFF), meanwhile, has raised its 2022 Brent forecast by $8 to $75 a barrel and its 2023 Brent forecast by $17 to $77.

J.P. Morgan analysts also expects oil prices to rise as high as $90 by the end of the year.

Current demand strength is acvting as a near-term tailwind, having proved largely immune to surging coronavirus infections, the bank said.

ig right nyse right Neteller adver right
APPROVED BROKERS
rakuten_main right top net_home_top ig_main right top Binance _ main right top fbs_main right top tifia_main right top
27-01-2022 18:41:10 (UTC+7)

EUR/USD

1.1144

+0.0001 (+0.01%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

EUR/USD

1.1144

+0.0001 (+0.01%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

GBP/USD

1.3390

+0.0004 (+0.03%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

USD/JPY

115.38

+0.04 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (1)

Sell (7)

AUD/USD

0.7039

+0.0008 (+0.11%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (4)

Sell (3)

USD/CAD

1.2736

-0.0004 (-0.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

EUR/JPY

128.58

+0.06 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (5)

EUR/CHF

1.0377

+0.0008 (+0.08%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (3)

Sell (5)

Gold Futures

1,796.60

+0.05 (+0.00%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (5)

Silver Futures

22.793

+0.013 (+0.06%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Copper Futures

4.4270

+0.0105 (+0.24%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (5)

Crude Oil WTI Futures

87.39

+0.11 (+0.13%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (7)

Brent Oil Futures

88.84

+0.15 (+0.17%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Natural Gas Futures

4.336

-0.002 (-0.05%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (0)

US Coffee C Futures

231.78

-7.12 (-2.98%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

Euro Stoxx 50

4,184.97

+20.37 (+0.49%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

S&P 500

4,326.50

-23.43 (-0.54%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

15,524.27

+64.88 (+0.42%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

FTSE 100

7,554.31

+84.53 (+1.13%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (6)

Sell (1)

Hang Seng

23,807.00

-482.90 (-1.99%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

US Small Cap 2000

1,932.23

-44.24 (-2.24%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (4)

IBEX 35

8,706.00

+85.80 (+1.00%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

BASF SE NA O.N.

68.450

+1.140 (+1.69%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Bayer AG NA

52.58

+1.03 (+2.00%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (10)

Allianz SE VNA O.N.

228.70

+3.90 (+1.73%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (11)

Adidas AG

242.15

-1.05 (-0.43%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Lufthansa AG

7.045

-0.022 (-0.31%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

Siemens AG Class N

140.50

-0.74 (-0.52%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (9)

Deutsche Bank AG

11.920

+0.500 (+4.38%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

 EUR/USD1.1144Buy
 GBP/USD1.3390↑ Buy
 USD/JPY115.38Neutral
 AUD/USD0.7039Buy
 USD/CAD1.2736↑ Sell
 EUR/JPY128.58Neutral
 EUR/CHF1.0377Neutral
 Gold1,796.60Sell
 Silver22.793Sell
 Copper4.4270Neutral
 Crude Oil WTI87.39↑ Sell
 Brent Oil88.84↑ Buy
 Natural Gas4.336↑ Buy
 US Coffee C231.78Buy
 Euro Stoxx 504,184.97↑ Buy
 S&P 5004,326.50↑ Sell
 DAX15,524.27↑ Buy
 FTSE 1007,554.31↑ Buy
 Hang Seng23,807.00↑ Buy
 Small Cap 20001,932.23Neutral
 IBEX 358,706.00↑ Buy
 BASF68.450↑ Sell
 Bayer52.58↑ Sell
 Allianz228.70↑ Sell
 Adidas242.15↑ Sell
 Lufthansa7.045↑ Sell
 Siemens AG140.50↑ Sell
 Deutsche Bank AG11.920↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,195/ 6,235
(0/ 0) # 1,263
SJC HCM6,195/ 6,255
(0/ 0) # 1,284
SJC Hanoi6,195/ 6,257
(0/ 0) # 1,286
SJC Danang6,195/ 6,257
(0/ 0) # 1,286
SJC Nhatrang6,195/ 6,257
(0/ 0) # 1,286
SJC Cantho6,195/ 6,257
(0/ 0) # 1,286
Cập nhật 27-01-2022 18:36:14
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,798.23-23.93-1.31%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
ↂ Giá dầu thô thế giới
WTI$87.45+0.820.94%
Brent$89.95+0.921.02%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.470,0022.780,00
EUR24.775,4326.164,36
GBP29.663,4530.930,27
JPY191,46202,68
KRW16,2819,84
Cập nhật lúc 06:32:17 28/01/2022
Xem bảng tỷ giá hối đoái
binance main right Fxpro Main Right aetos main right adver main right