Oil prices could top $100 next year thanks to Russia's struggle to find buyers and China's reopening, a UBS analyst says

Dec 12 2022 by Business Insider

 
An oil tanker.

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Oil could top $100 a barrel in 2023 as the Russia embargo bites and China reopens, a UBS analyst said.  An EU price cap on Russian oil will make it harder for it to sell crude, hurting output, an analyst said.  China's easing of COVID-19 restrictions could also elevate prices as demand bounces back, he added. 

Oil prices could top $100 a barrel next year as Russia lowers crude production and as demand from China bounces back,...

Continue Reading Oil prices could top $100 next year thanks to Russia's struggle to find buyers and China's reopening, a UBS analyst says