According to the analyst, the market is now mainly "expressing the topic of a possible recession in the global economy", and in the near future oil prices are unlikely to rise.
“Also against the backdrop of news from China, there are again new records in the number of detected cases of covid.
China, at least for now, is not massively abandoning its policy of intolerance to covid, lockdowns are starting again.
Beijing imposes restrictions on the movement of people,” Yushkov said.
He noted that even from the expectation of a possible reduction in the consumption of petroleum products, oil prices begin to decline.
“In the short term, these are the expectations.
And prices, most likely, will decrease… Also, everyone is starting to take stock of 2022 and make forecasts for 2023.
And when they track the dynamics of economic development, both in individual countries and in the global economy, everyone sees a decrease in dynamics and a gradual transition to recession.
This means less production of goods and transportation, which will make oil products less in demand.
Such moods now reign, so I think that in the near future oil will become cheaper, or will remain at the same level as now, but it is unlikely to go up now, ”concluded the interlocutor of RT.
Earlier, Italy's Minister for the Environment and Energy Security, Gilberto Pichetto-Fratin, admitted that at an extraordinary meeting of EU Energy Ministers in December it would be possible to agree on a price ceiling for Russian gas.