“When European countries, for example, return to a dialogue about whether to impose a ban on the import of Russian oil, then another panic begins among traders: what will happen if Russian oil leaves the market, what will be the deficit?
This makes oil more expensive,” the specialist explained.
At the same time, the interlocutor of RT emphasized that as soon as a new sanctions package is published, and there are no restrictions on oil in it, the market "more or less calms down."
“When there is news that more and more Russian oil is going to India, the price starts to fall again... The news that Russian oil is mixed with some other oil or with oil products also has a calming effect - this shows that Russian oil is quite goes well to foreign markets,” Yushkov said.
At the same time, he said that there is still a shortage of oil on the world market.
“Many countries simply cannot increase their output.
In 2020 and 2021, there was a huge underinvestment in the oil industry, and now we are reaping the benefits,” the specialist added.
In addition, according to the expert, the situation with coronavirus in China plays an important role.
“Everyone, of course, looks at China, how they are developing the situation with the coronavirus.
If the lockdowns expand, then oil consumption there will decrease, and this will put pressure on prices.
If they remove some of the restrictions, then the price will rise even more, ”concluded the analyst.
Earlier it was reported that the price of a futures contract for Brent crude oil for delivery in June 2022 on the London ICE exchange reached $112.39 per barrel.