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- 🚀 Gate $PUMP Futures Trading Challenge is Now Live!
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(T
Institution: Oil prices return to the rising range due to supply concerns
On February 20, Jinshi Data News, with support for supply concerns, oil prices returned to the pump area. Analysts at Mitsubishi UFJ Financial Group stated that the interruption of oil supply in Kazakhstan, the possibility of OPEC+ further delaying its production increase plan, and reports that the G7 is considering tightening the Russian oil cap have all boosted oil prices. At the same time, due to production quotas imposed by OPEC+, any peace protocol between Russia and Ukraine is unlikely to lead to an increase in Russian oil flow. Analysts said, 'The uncertainty in the global oil market this year is greater than in any year since the COVID-19 pandemic.' The agency expects the average price of Brent crude oil to be $73 per barrel this year.