Analyst Yushkov commented on the dynamics of oil prices

The expert noted that if Russia reduces exports, this will become a price increase factor.

“There is already a shortage in the world, prices are quite high, and then there will be a reduction.

But, of course, no one can know for sure what the prices will be,” he said.

According to Yushkov, several factors now play a role in the oil products market, and the first of them is “fear of a recession”.

“Everyone is afraid of a global recession.

Because throughout 2022, energy prices have generally been quite high.

And since the price of energy is included in the cost of all products, all products and goods have risen in price, and inflation is high in all countries ... Everyone is fighting inflation in the same way - raising the rates of the Central Banks.

And when this happens, loans become more expensive, respectively, enterprises do not take these loans, and industrial and economic activity decreases.

As a result, the demand for oil falls and the price goes down.

Everyone is afraid that this will happen, and this is pushing prices down, ”the expert explained.

Another important factor, according to the specialist, is the situation in China.

“They said that they will ease the measures against covid, which means that there will be no such hard lockdowns and people will move more.

Accordingly, the economy will revive, which will increase the demand for oil, which, in turn, will push prices up,” Yushkov said.

He added that the third factor is the behavior of Russia.

“How much will we have to reduce oil exports during this transitional period, when we start trading in a new way, go completely to Asia, the oil price ceiling is turned on, and so on.

Everyone is watching which of these trends, pushing prices up or down, will prevail.

The price will depend on the victory of one of the trends,” the analyst is sure.

In conclusion, the interlocutor of RT noted that, in his opinion, in the near future oil "will remain quite expensive"

Earlier, Deputy Prime Minister Alexander Novak said that prices for petroleum products in Europe after the embargo on supplies from Russia in February could soar.