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HomeBusinessJP Morgan Estimates Crude Oil May Reach $185 After Supply Hit

JP Morgan Estimates Crude Oil May Reach $185 After Supply Hit

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JP Morgan Estimates Crude Oil Price: Crude oil price amid intensifying Russia’s attack on Ukraine ( Russia-Ukraine crisis ) continuously jumping. Expensive oil is a matter of concern for India. Investment banker Morgan Stanley says that if the supply of oil from Russia continues to be disrupted, then crude oil in the international market can reach the level of $185.

Crude oil had reached the level of $120 on Thursday, and today it is trading in the range of $110. America and other countries of Europe are imposing sanctions against Russia. Due to this also, he is not able to export oil freely. According to JP Morgan, Russia can currently export 66 per cent of its oil.

JP Morgan Estimates Crude Oil Price

In this report, it has been said that the oil supply problem will increase so much that crude oil will remain at the level of $120 per barrel in the short term. The imposition of sanctions on Russia will negatively affect the global energy market. Especially the countries of Europe will have to face severe consequences for this. Russia’s oil exports to Europe and America will fall by 4.3 million barrels daily.

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What will be the price of crude oil in future?

JP Morgan believes that the average price of crude oil will remain at $110 per barrel in the second quarter, $100 per barrel in the third quarter and $90 in the fourth quarter. If the oil supply from Iran is not started, the average price will be $115 in the second quarter, $105 in the third quarter and $95 per barrel in the fourth quarter.

Russia is the world’s second-largest oil producer.

Russia is the world’s largest crude oil producer. It produces 11 million barrels of crude oil daily. It uses half itself and exports 5-6 million barrels of oil daily. It is currently the second-largest oil producer in the world. More than that, only America is producing oil. Half of Russia’s exports go to European countries such as Germany, Italy, the Netherlands, Poland, Finland, Lithuania, Greece, Romania and Bulgaria.

Brent crude may go up to $180

Here OPEC + countries have also decided not to increase oil production. Amit Harchekar, CMT, IndexGenius Investment Advisor, says that with the rising tension in Ukraine-Russia, the price of Brent crude may reach $180 per barrel in the coming days. For the last 15 years, there was a perception that crude oil prices were in a bear market, but now it has shifted to a bull market.

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Shubham Dubey
Shubham Dubey
Shubham has an excellent knowledge of science and technology. He has one year of experience in writing articles. He also had worked for many websites. He loves singing and painting.

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