“I think the reason is that the demand for oil is gradually recovering, respectively, consumption is growing, the world is getting out of quarantine measures ... On the other hand, on the supply side, on the contrary, we see that production is correspondingly decreasing. and there is an OPEC + agreement, ”the expert emphasized.
Yushkov also added that American shale miners have also reduced production.
“Therefore, it turns out that on the one hand, demand is recovering, but, on the other hand, the volume of production, at least, does not increase, so the price increases,” the expert emphasized.
The analyst noted that the situation in Beirut also influenced the cost.
In turn, Sergei Pikin, director of the Energy Development Fund, also noted in an interview with RT that several factors affect the increase in oil prices.
“First, there is tension in the Middle East, especially after Lebanon. Secondly, the news that comes with regard to oil and oil products reserves is also not positive for oil. Against this background, the excess occurred. Yesterday oil was much higher than $ 44 per barrel, and today, it turns out, already $ 45 per barrel and more, "Pikin concluded.
Earlier it became known that the cost of Brent crude oil exceeded $ 45 per barrel.