Can the oil price reach 150 dollars?

According to the Qatari Minister of Energy, if more countries stop exporting oil, the price of oil could rise to $150. This was reported by Zamin.uz.

This was reported by the Financial Times. Currently, the world is facing the largest supply loss.

The transport flow through the Strait of Hormuz, with a 90 percent decrease, could cause the market to lose approximately 600 million barrels of oil per month. In this situation, the US was forced to ease sanctions against Russia.

India, meanwhile, has allowed the purchase of Russian oil from floating storage tanks for refineries until the beginning of April. So far, these developments have not affected Uzbekistan.

However, in the future, this situation may impact our markets. In particular, there is a possibility that gasoline prices will rise first.

Time will show how these changes will affect our economy. Therefore, it will be necessary to closely monitor the economic situation.