The oil market is becoming a delicate subject these days, the price of the latter may, indeed, undergo a major change. Energy officials say there is a likelihood that this market will destabilize soon. Three scenarios may be responsible for this; we will assign you the information about them through this article.
The hydrocarbon market is under threat
With the impending war between Russia and Ukraine, the price of hydrocarbons, including oil and gas, could increase. But this event is not the only factor threatening this market; crises, natural disasters and conflicts may also weaken it.
The former president of the Sonatrach group, Ahmed Mechraoui, also underlined during an interview that supply and demand play a key role in this area. The more the second falls, the more the first increases; as a result, the price drops excessively and vice versa. It may also produce a global economic crisis, he said.
The 3 scenarios that could take place
Energy specialists fear that there could be a change in the oil market in Algeria in the year 2022-2023. The first estimate is based on the fact that the price of a barrel of oil could reach up to 150 Dollars; an optimized theory.
In addition, a negative possibility could arise by lowering the level of global growth and unquestionably decreasing the price per barrel to 65 Dollars.
The third scenario stipulates that the price of a barrel of oil could swing between 100 to 150 Dollars, and this, until the end of this year. This theory is the most obvious according to energy specialists.
Ahmed Mechraoui effectively asserted that the drop in price encountered by the oil market is partly the responsibility of OPEC and its production partners.
