Wang Ye said financial news: What will happen to oil prices in the future?
In this regard, on Thursday (20th), Wall Street investment bank - JPMorgan Chase said that in 2023, international oil prices may remain around $80 per barrel, but if something happens, the national oil prices will soar to a sky-high price - $150 per barrel.
JPMorgan Chase said that if countries around the world do not invest enough in the oil industry, The global oil market supply will become increasingly tight in the next 10 years. In addition, the following three things may cause international oil prices to soar, including:
1) Global demand for oil rise;
2) The Organization of Petroleum Exporting Countries and Allies (OPEC+) failed to meet their production targets;
3) The production of shale oil in the United States slowed down,
Finally, with the "assistance" of four major factors, international oil prices will easily soar to US$150 per barrel.
In this regard, Christyan Malek, head of global energy strategy at JPMorgan Chase, said that although oil prices have risen 40% this year, insufficient investment in the oil industry may make the supply tighter.
In addition, the JPMorgan expert also said that oil is the place they see the most need to invest, whether it is maintaining existing production bases or continuing to develop, and although people have realized the investment needs of oil and natural gas , it has not actually converted to additional expenditures.
So how much will it be reduced?
Prince said that finance noticed that Malik predicts that by 2030, global investment in the oil industry will be reduced by US$300 billion.
Therefore, the global energy market may be hit, and as daily oil demand in 2030 is estimated to increase by 7.1 million barrels compared with 2019.
In other words, by 2030, the global oil market will experience a shortage of 700,000 barrels per day. In view of this, international oil prices may continue to rise in the future.
Finally, in response to the reasons for insufficient investment, Malik explained that this may be OPEC+'s decision to reduce production capacity by 2 million barrels per day from November, because the reduction in production may reduce investment in the energy market.
"The role of OPEC+ is not limited to meeting demand, but to achieve incentives for market investment to ensure that sufficient supply meets demand for the future," added Malik.
What do you think about this? What do you think will be the international oil price next? Will it really break through $150 per barrel?
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