Oil prices may hit $110 a barrel, but Russia risk could 'turbocharge' them even higher | Business Insider

Analysts wrote in a note on Thursday that a price cap on Russian oil remains an upside risk. go to www.BusinessInsider.co.zaBrent crude oil could climb as high as $110 per barrel in 2023, though there are several risks that could add more pressure on prices, according to a note from Bank of America.

But BofA analysts also noted several upside risk factors for oil prices next year, namely a price cap on Russian crude. Russia presents the largest upside risk to oil prices, but there are other risks lurking as well, analysts said. In particular, further supply disruptions from OPEC producers like Libya, Nigeria, Iraq or others could"put the oil market on notice."

BISouthAfrica We should use our own African oil from Nigeria or which has to sell to our own countries. Cut off EU and west countries making us depended on them. We are a rich mineral and natural gas countries.

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