Reuters was informed by economists that, in the event of a global economic disaster, oil prices might fall to less than $65 per barrel by the middle of 2023.
Three possible scenarios for additional developments have been proposed by RBC Capital Markets specialists.
An optimistic scenario for oil suppliers assumes that investors will be far from risk and the problems of the global economy will be exaggerated and in this case, the price of a barrel may rise to 115-120 dollars.
Oil prices will remain at the level of 90-95 dollars per barrel if overall economic indications are negative but the market’s fundamentals are strong.
Regarding the adverse scenario, crude prices may drop by a third or even more when a slowdown in growth is noticed against a backdrop of unfavourable expectations.
Experts pointed out that in light of the current circumstances it is impossible to understand which expectations will be achieved.
As a result of the chaotic macroeconomic forces, the situation is still far from stable and there is a significant likelihood of further shocks.
Source: Row, Linta.
Reuters: A third of a third drop in oil prices is anticipated.
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