Oil Expert: Despite The American Decision, Oil Prices Will Jump To $90 Until The End Of 2022

Oil Expert: Despite The American Decision, Oil Prices Will Jump To $90 Until The End Of 2022

11/23/2121 | 5:41 PM

Oil Expert - Despite The American Decision Oil Prices Will Jump To 90 Until The End Of 2022Information / Special..
The oil expert, Hamza Al-Jawahiri, considered, on Tuesday, that the American step to market 50 million barrels of oil in the markets to reduce prices will not be effective due to the increase in demand.
Al-Jawahiri said, in a statement to the Information Agency, that “the American announcement step is part of an old plan that it was keeping to prevent prices from rising above $90, and the situation may continue to keep prices until 2022.”
He added that “OPEC’s plan to maintain balance in the oil market while seeking to raise prices was successful and significantly and has achieved many gains during the last period, but countries that possess large oil reserves, such as the United States, will stand in the way of raising prices to the level of 100 dollars or even reaching 90 dollars. “.
He pointed out that “the matter for Iraq will be with OPEC and will not deviate from the procedures adopted by OPEC during the next stage as long as its plan achieved the goal of raising prices despite the entry of industrial countries on the line and trying to reduce prices.”
It is noteworthy that US President Joe Biden announced this morning the release of 50 million barrels of oil from strategic storage to the market in order to influence oil prices and bring them back to the level you want.

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