How much oil will the world’s third largest oil producer pump into the global oil market in 2023?
(Photo: IMAGO/ITAR-TASS)
Frankfurt Around $60 – that’s how big was the range between the high and the low of the oil price last year. The experts’ forecasts for 2023 also differ widely. In view of the many uncertain factors, the range extends from 100 dollars to 65 dollars for a barrel (159 liters) of North Sea Brent oil.
In spring 2022, Russia’s invasion of Ukraine sent the price of oil skyrocketing to around $130. But then the reversal followed: Because the USA tapped into its strategic reserves, Russian oil production recovered quickly and the abrupt interest rate hike by the central banks fueled fears of a recession, the oil price fell back to around 85 dollars.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue