empty
 
 
04.07.2022 10:42 AM
Global oil prices could reach $380 a barrel

This image is no longer relevant

Global oil prices could hit $380 a barrel, said JPMorgan analysts. They warned that supply will continue to plunge if G7 countries insist on the sanctions previously implemented to Russia in response to the geopolitical crisis in Ukraine. Moscow could retaliate by cutting oil output as it can afford to reduce daily oil production by 5 million barrels, thanks to the country's current financial position.

The highest price of oil was $147, which was hit last 2008.

This image is no longer relevant

Such a scenario would be disastrous as a 3 million barrel cut in daily supplies would push oil prices up to $190 in London. Meanwhile, a 5 million barrel cut would raise prices to $380.

In this regard, traders should take long positions in order to raise prices to yearly highs.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback