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With the end of “zero Covid”, the recovery in China determines oil prices

2023-01-11T18:26:24.307Z


Beijing has initiated a total post-Covid reopening procedure, in the midst of a sudden outbreak of the pandemic.


The question interests the whole world or almost.

How far will the price of a barrel of crude go up or, on the contrary, go down this year?

What will be the average amount of the invoice for the next twelve months?

To discover

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The speculations cover a wide range.

A barrel of Brent was worth nearly $81 on Wednesday.

It could reach 140 dollars, a level close to the price reached in 2008, in the event of a “

total

” reopening of China, estimates the Andurand Capital fund, which specializes in oil and energy.

Read also$60 a barrel of Russian crude: a controversial ceiling price

Its analysts consider that if activity in the Middle Kingdom regains all its dynamism, global demand for crude could increase by more than 4 million barrels per day in 2023. This would represent an increase of 4% compared to the last year.

Other specialists are more measured.

Swiss banks UBS and Lombard Odier see the price of a barrel of Brent around $110 and $90 respectively in 2023.

Countries on the brink of recession

Conversely, can the price drop altogether?

In December, economists…

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Source: lefigaro

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