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Crude oil prices will rise by March but remain below $100 per barrel level: MC Poll
Benchmark Brent oil prices are seen rising from current levels by March but are unlikely to breach $100 a barrel, according to a poll conducted by Moneycontrol.
A survey of 14 energy experts from brokerages and rating agencies reveals that they expect some upward pressure on the price of crude oil but are divided on the quantum of the increase. Five experts said it would be at $80-90 a barrel and the same number said it would be in the $90-100 range.
On December 14, the Brent crude price rose more than 2 percent to settle at $82.70 per barrel.
The price of crude oil has remained volatile in 2022 due to several factors, including geopolitical tensions building up ahead of Russia’s invasion of Ukraine in February. The volatility has continued since then, amid recession fears sparked by a weakening global economy and demand uncertainty in China on account of its zero Covid-19 policy.
The poll conducted by Moneycontrol gauged sentiments towards the price of crude and how this would reflect on fuel prices in India.
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