Experts expected that oil will exceed the price of $ 100 per barrel, by the end of this year, due to the high demand and the continuous recovery from the Corona epidemic.
US bank Goldman Sachs said a strong recovery in global oil demand could push Brent crude prices above its year-end forecast of $90 a barrel.
The American investment bank expects that oil demand will soon reach pre-Coronavirus levels; At about 100 million barrels per day, with consumption recovering in Asia after the wave of the mutated strain "Delta", it is also expected that the switch from gas to oil will add at least one million barrels per day to the demand for crude.
For his part, Larry Fink, CEO of the American company, BlackRock, estimated that the prospects of oil prices rising to $100 per barrel of Brent crude increased, in light of rising energy prices by next year.
The estimates of the President of "BlackRock" came during his speech during the Future Investment Initiative in the Saudi capital, Riyadh, which began its work on Monday and continues until Thursday.
Oil prices recently exceeded $86 a barrel, at the peak of 2014; Many think tanks expect it to reach $100 as demand increases after recovering from Corona.
Oil prices fell during trading on Tuesday, after a rally driven by strong demand in the United States; The largest consumer of oil and its derivatives in the world to $85.12 a barrel.
US West Texas Intermediate crude futures prices for December delivery also fell 0.14%, or 12 cents, to $83.64 a barrel.
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