Analysts of oil markets expect oil above $70 per barrel due to high demand

Analysts of oil markets, who took part in the Reuters poll in May, expect oil prices above $70 per barrel this year due to good demand. According to their estimates, the demand for oil will be able to level even a possible increase in production by OPEC + producers. The 36 analysts who participated in the poll believe that the average price of Brent crude oil will be 71 dollars 68 cents per barrel. The average price of WTI oil will be at 66 dollars 47 cents per barrel. Harry Tchilingguirian from BNP Paribas said: “The fundamental indicators of the market have recently favored oil quotes. Geopolitical tensions around Iran and Venezuela threatens an even greater restriction of supply of raw materials, the level of which is already restrained by the voluntarily taken obligations of OPEC + “.

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