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Brent crude is expected to drop from around $66 a barrel to the mid-$50s in 2026, according to investment giant Macquarie, with prices driven down by oversupply.
Urals to sell for less than 50 USD per barrel next year?
How will oil prices get reduced when OPEC+ clearly dont want to reduce oil prices to such low levels as this will mean less profits to the Gulf Tycoons and the Russians are facing embargoes after embargoes which means they have to sell their oil more expensively through the backdoor to Western nationsGood news in 2 ways for me today
- the price of fuel I put in my car is likely to fall in the next few months
- the price that Russia gets for each barrel of crude it sells is likely to fall in the next few months
Urals to sell for less than 50 USD per barrel next year?
I think there are a number of factors involved in an excess of supply over demand appearing soon if it has not already appeared. A couple of possibilities for this I have heard (no guarantee they are right)How will oil prices get reduced when OPEC+ clearly dont want to reduce oil prices to such low levels as this will mean less profits to the Gulf Tycoons and the Russians are facing embargoes after embargoes which means they have to sell their oil more expensively through the backdoor to Western nations
Ukraine’s new strategy of targeting oil refineries is taking its toll on Russia’s economy, dramatically cutting its refining capacity as the government seeks to balance massive military spending with falling revenue.
Citing data from Seala, a Russian energy markets analysis agency, the Russian business daily RBC reported that nearly 40 percent of the country’s refining capacity remains idle, mainly due to repairs after attacks.