“The first factor is the statistics of OPEC +, that is, to what extent the countries that signed the agreement fulfill their obligations ... The second factor is the sanctions pressure on the Russian Federation from the EU, the US and the UK,” Frolov explained.
He noted that it is impossible to fully satisfy the demand for oil products due to the actions of Western countries.
This can trigger price spikes from time to time, the analyst added.
“Prices will fluctuate, most likely, most of the time they will stay above the $100 mark,” the expert concluded.
Earlier, the US authorities called on the country's major oil companies to increase the volume of supplies.