According to the expert, there are more opportunities for oil price growth than for its fall.
“Sanctions against Russia will come into effect and this unnerves the market.
On December 5, an embargo on Russian oil transported by sea to the EU countries comes into force.
That is, it will be impossible to supply oil to Europe by tankers at any price - neither on the ceiling, nor without a ceiling.
And all volumes of Russian oil will have to finally go to some other markets.
First of all, we ship to Asia.
Turkey, Egypt, India, China are our main buyers,” Yushkov said.
He noted that the intrigue lies in whether all volumes of oil are contracted enough, or by the end of December it will be possible to see a decrease in export volumes.
“This is a big intrigue, and all this is very unnerving for the market.
As a result, prices may rise.
Especially if there is data on a reduction in exports from Russia ... The second important point is the possible introduction of a price ceiling for Russian oil, ”the specialist explained.
There is no final decision on this issue yet, the analyst reminded.
“Nevertheless, even these protracted negotiations are unnerving the market, and we are seeing news that the cost of leasing to transport Russian oil is going up.
And if they still accept these sanctions, this will also create additional risks for the export of Russian oil, and prices will go up, ”the RT interlocutor believes.
He added that an additional factor will also be the message that China has begun to ease coronavirus restrictions.
“This is encouraging.
In terms of the fact that the fewer restrictions, the more the Chinese move and move goods.
And, accordingly, they consume more oil products,” the analyst concluded.
Earlier, Thai Ambassador to Moscow Sasivat Wongsinsawat said that the Thai authorities and business are studying the possibility of importing energy resources from Russia.