“Most likely, we will see that oil prices will be kept at a fairly high level, because there are no factors for it to go down.
In order for it to decrease, it is necessary to saturate the market with new volumes.
The price is high precisely because there is a shortage on the world market,” Yushkov explained.
The main factor affecting the price of oil is the recovery in demand in China - quarantine restrictions are being lifted and restrictions on the movement of people are being removed, the analyst said.
“China will increase the volume of imports, which means that the deficit in world markets will be aggravated.
And China has already begun to increase the volume of imports, this has already kept the price of oil in the region of $110 per barrel, ”the specialist said.
According to him, the second factor affecting the change in the price of oil is that the United States is in close proximity to the completion of the program for the sale of oil and strategic reserves.
“They are throwing huge volumes of oil and strategic reserves onto the market, but this does not lead to the market being saturated, that is, the shortage is so serious ... I think that we will continue to see prices above $100 per barrel,” the expert concluded.
Earlier it was reported that the acceptance of oil from Kazakhstani shippers was restored in full at all berths of the Caspian Pipeline Consortium (CPC).