“The first factor is a decrease in the volume of production within OPEC +, the second is the hope that mass vaccination around the world will lead to a victory over the coronavirus, respectively, quarantine will be canceled, people will move more and spend more fuel on these movements, which means demand will recover, ”Yushkov said.

The analyst noted that the current rise in prices is largely "traders' expectations."

“That is, it does not reflect the real picture of the balance of supply and demand.

Because now, on the contrary, from the point of view of the balance of supply and demand, the price should decrease to $ 45 per barrel, but we see that on these expectations of a recovery in demand and positive news from OPEC + the price is only growing, ”he added.

The expert said that another factor that also affects the price is the change of power in the United States.

“That is, many traders there are confident that Biden will clamp down on shale oil and shale gas producers in the United States ... Trump was a lobbyist for the industry, a supporter of traditional energy, and Biden is supposedly a supporter of ... climate agreements, and that he supposedly, in their views, it will put pressure on shale producers ... Whether it is true or not, it is still too early to say, but these expectations lead to the fact that traders are buying oil futures, expect that it will rise in price in the future due to Biden's actions, and from their own actions, from what they buy.

Accordingly, there is demand for futures, and now they are becoming more expensive, ”he concluded. 

Earlier it was reported that the price of Brent crude oil rose during trading above $ 57 per barrel for the first time since February 24, 2020.

As of 12:39 Moscow time, the price of March futures for North Sea Brent oil mixture is $ 56.85 per barrel.