In the second half of the year, when China’s economy emerges from anti-virus lockdowns, crude oil prices could reach $100 per barrel, according to Iran’s liaison to OPEC.
Afshin Javan, Iran’s national representative to the OPEC producer group, stated on the fringes of the India Energy Week conference in Bengaluru that “we have some market constraints that could put pressure on pricing.” “I predict a $100 per barrel increase in oil prices.”
After a shaky start to the year, crude oil prices traded above $84 per barrel in London on Wednesday as traders evaluated whether China could restore normal business operations without experiencing an enormous spike in Covid cases. The Lunar New Year holiday saw a surge in travel, which increased optimism about the future.
