According to Goldman Sachs forecasts, oil demand will reach a new record level next year, which could push oil prices up to $100 per barrel.
"Before the new strain of coronavirus was discovered, the demand for oil was already at an all-time high. Meanwhile, we expect a further recovery in demand for air transportation. Thus, oil demand is likely to continue to increase in the next two years," said Damien Courvalin, head of energy research at Goldman Sachs.
At the end of October, oil prices rose above the level of $80 per barrel amid the fact that demand exceeded supply, but after the news of the discovery of the Omicron strain, oil prices fell sharply.
However, Courvalin believes that in 2022 the restrictions that prevent air transportation will be lifted, and oil prices will return to the highs of October 2021 and even exceed them.
Courvalin noted that next year oil prices may rise to $100 per barrel against the background of increased costs as oil companies increase production, and excess demand over supply as the global economy recovers.