Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Oil could hit $200 per barrel – Barclays, Rystad

    Oil could hit $200 per barrel – Barclays, Rystad

    March 8, 2022
    Share
    Facebook Twitter LinkedIn WhatsApp

    …Goldman Sachs raises price forecast 

    Oil price rises

    Sam Ikeotuonye, with agency reports

    Lagos — British multinational universal bank, Barclays, and Norway-based consultancy Rystad Energy say crude oil prices could reach $200 per barrel as a result of the ongoing Russia-Ukraine war.

    Goldman Sachs hiked its price forecasts for Brent oil saying the world could be facing one of “largest energy supply shocks ever” because of the Ukraine crisis, while Barclays said prices in its worst case scenario could top $200 a barrel, according to Reuters.Rystad Energy also said Brent could rise to $200 if Europe and the United States banned Russian oil imports.

    Goldman raised its 2022 Brent spot price forecast to $135 per barrel from $98 and its 2023 outlook to $115 from $105.

    More than half of Russia’s March loadings so far were reported unsold and, if sustained, this could represent a 3 million barrel per day (bpd) fall in Russian crude and product seaborne exports, the fifth largest disruption in a month since World War Two, the bank said in a note.

    The United States and Europe have not imposed sanctions on Russian oil and gas exports, but many buyers are reluctant to make purchases to avoid becoming entangled in sanctions indirectly, while Washington has said it could act alone in banning Russian oil imports.

    Russia, the world’s second biggest oil exporter, ships about 7 million bpd of crude and oil products.

    “In the short term, coping with such a supply shock would require the combined help of global strategic reserves, core-OPEC, Iran and higher prices to reduce consumption,” Goldman said.

    Barclays said disrupting most of Russian seaborne crude supplies in its worst case scenario could push prices above $200, although it did not revise its 2022 Brent forecast saying “the situation remains highly fluid.”

    Oil prices climbed above $130 on Tuesday on expectations the United States would formally ban Russian oil imports.

    Follow us on twitter

    Related News

    Angola’s Block 17 partners sign license extension

    Tinubu pardons Ken Saro-Wiwa, confers national honours on Ogoni Nine

    NCDMB Executive Secretary becomes member of APPO Board

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    “We want reparations”, oil-affected Niger Delta victims demand action

    June 13, 2025

    Transocean Coatings establishes affiliate at SIIFZ

    June 13, 2025

    LASG approves seven dedicated truck parks for Lekki Port axis

    June 13, 2025

    NCDMB Executive Secretary joins AEW 2025 amid focus on enhancing local capacity

    June 13, 2025

    AfDB to provide $184.1m for Africa’s largest solar energy and battery storage project

    June 13, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.