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Bloomberg warned of the biggest oil shortage in world markets since 2007 – Rossiyskaya Gazeta

Date: April 17, 2024 Time: 08:21:58

This dynamic, according to the agency, could be caused by a reduction in oil production in Saudi Arabia and a decrease in oil exports from Russia. “In this case, the inflationary pressure on the global economy will be unprecedented,” the agency warns.

The article also points out that the reduction in supply of Saudi oil in a context of record demand has already caused a sharp increase in prices, up to $90 per barrel. On September 12, the price of Brent oil exceeded $92 per barrel for the first time since November 17, 2022, according to data from the ICE London exchange.

Earlier, Vladimir Evstifeev, head of the analytical department at Zenit Bank, told Rossiyskaya Gazeta that oil demand in the current half of the year will remain high, despite expectations of a slowdown in global GDP growth. “The market remains scarce, which allows us to maintain a high price level,” said the expert.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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