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Home / Business / The oil is reaching a new multiyear high as the market slackens supply

The oil is reaching a new multiyear high as the market slackens supply



The US government wants to prevent Tehran from exporting oil to cut off a vital funding offer, and hopes that other major oil producers in the Organization of Petroleum Exporting Countries and Russia will make up the shortfall.

But the world oil The market is already tense, and many analysts and big investors believe that strict enforcement of US sanctions against Iran will push prices up sharply.

But the world oil market is already strained and unplanned disruptions in Canada, Libya and Venezuela are eliminating supply.

Many analysts and investors believe that strict enforcement of US sanctions on Iran will drive prices up sharply.

"It is becoming increasingly clear that Saudi Arabia and Russia can not compensate for the potential losses in Venezuelan, Iranian and Russian oil production Libya," said Abhishek Kumar, an analyst at Interfax Energy in London.

Vienna-based consulting firm JBC Energy said the stronger the implementation and enforcement of US sanctions, the higher the price of oil. "Three-digit oil prices are not off the table," said JBC.

A Reuters survey of 35 economists and analysts on Friday predicted Brent will average $ 72.58 a barrel in 201

8, up 90 cents from last month's forecast of $ 71.68 and compared to the $ 71.15 average so far this year Year.

North American oil reserves have fallen as a failure in Canada's Syncrude has included in more than 300,000 bpd of production. According to operator Suncor Energy, the failure is expected to continue at least until July.


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