“Growth at such a pace certainly will not continue. The oil price will hit the upper ceiling, which is somewhere in the region of $ 40- $ 45 per barrel based on current economic conditions, ”the expert said.
According to him, the growth indicators observed in this period of time reflect the volatility and spasmodic prevailing in the oil market.
The expert emphasized that jumps up and down by 4-5% can not be taken into account because of their short duration.
“Nevertheless, the tendency to increase prices, to equalize them, is taking place and is completely justified, has an economic foundation,” concluded Belyaev.
Previously, trading data showed that world oil prices are rising by 4-5%.
As of July 16, 17:20 Moscow time, July WTI crude futures rose 5.04% to $ 38.99 a barrel.