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World oil prices

Oil prices may remain at around $75 per barrel in 2022 — Novak

Russian Deputy Prime Minister noted that the growth of the world economy and the demand for oil contributes to the prices

Russian Deputy Prime Minister Alexander Novak Yevgeny Biyatov/POOL/TASS

Russian Deputy Prime Minister Alexander Novak

© Yevgeny Biyatov/POOL/TASS

MOSCOW, December 24. / TASS /. The oil price in 2022 may remain at $75 per barrel with the possibility of fluctuation around 10% in both directions, Russian Deputy Prime Minister Alexander Novak said an interview with the Rossiya-24 TV channel on Friday.

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Russia’s oil output will grow by 2.1%, gas - by around 10% in 2021 — Novak

"The current levels that we see today are quite stable. This is $75 per barrel, plus or minus 10%. It seems to me that next year, these parameters will stay in place," he said.

Novak added that the growth of the world economy and the demand for oil contributes to the prices. "As many agencies and analysts predict the economy will continue to grow. But I don’t see any risks here that would lead to a deviation from the current level," Novak said.

He went on to say that the world economy growth and the demand for oil contributes to the current price. "The economy will continue to grow, as predicted by many agencies and analysts. But I don’t see any risks here that would lead to changes from the current level," he said. The price of Brent oil since the beginning of 2021 went up from $51 per barrel to about $73 as of now.

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