{"id":2409,"date":"2023-09-26T11:24:27","date_gmt":"2023-09-26T11:24:27","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=2409"},"modified":"2023-09-26T11:24:29","modified_gmt":"2023-09-26T11:24:29","slug":"crude-oil-prices-predicted-to-skyrocket-in-coming-years","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/","title":{"rendered":"Crude Oil Prices Predicted to Skyrocket in Coming Years"},"content":{"rendered":"\n<p>Renowned banks and agencies anticipate a substantial rise in the value of crude oil, with potential global implications.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-jp-morgan-s-bold-prediction\">JP Morgan&#8217;s Bold Prediction<\/h2>\n\n\n\n<p>JP Morgan&#8217;s Christyan Malek, the head of EMEA energy equity research, recently released a report predicting an &#8220;energy super cycle.&#8221; Malek believes that this cycle will catapult crude oil prices to a staggering $150 per barrel by 2026. The underlying force behind this surge, Malek indicates, is the emerging energy supercycle.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">BRICS Members and OPEC&#8217;s Influence<\/h2>\n\n\n\n<p>Most BRICS nations, along with other countries like Saudi Arabia, the UAE, Iran, Egypt, Ethiopia, and even the currently sanctioned Russia, export vast amounts of crude oil to various parts of the world. These exports, including to regions like the U.S. and Europe, are instrumental in determining global oil prices. Notably, several BRICS nations are part of the Organization of the Petroleum Exporting Countries (OPEC), which significantly influences worldwide oil prices. JP Morgan&#8217;s report also hints at a possible move away from the U.S. dollar in oil transactions. This notion is further substantiated by Russia&#8217;s leading oil distributor, Gazprom Neft, which recently transitioned away from using the U.S. dollar for its exports. Alexander Dyukov, the company\u2019s CEO, confirmed this shift in a conversation with Tass.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Global Impact and Other Predictions<\/h2>\n\n\n\n<p>An upward movement in crude oil prices can have ripple effects across global markets. Malek cautioned Bloomberg about the volatility of the upcoming supercycle, advising, &#8220;Put your seatbelts on.&#8221; He further emphasized the role of tight supply-demand balances in a note to investors.<\/p>\n\n\n\n<p>However, JP Morgan isn&#8217;t the lone voice forecasting a spike in oil prices. The International Energy Agency (IEA) hinted at a rising trend in oil prices as of August. Additionally, the leading financial institution, Goldman Sachs, also projects oil prices might touch $110 per barrel by 2023&#8217;s close.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Renowned banks and agencies anticipate a substantial rise in the value of crude oil, with potential global implications. JP Morgan&#8217;s Bold Prediction JP Morgan&#8217;s Christyan Malek, the head of EMEA energy equity research, recently released a report predicting an &#8220;energy super cycle.&#8221; Malek believes that this cycle will catapult crude oil prices to a staggering [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":1998,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[260],"tags":[],"class_list":{"0":"post-2409","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business-economics"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Crude Oil Prices Predicted to Skyrocket in Coming Years<\/title>\n<meta name=\"description\" content=\"Renowned banks and agencies anticipate a substantial rise in the value of crude oil, with potential global implications. JP Morgan&#039;s Bold Prediction JP\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude Oil Prices Predicted to Skyrocket in Coming Years\" \/>\n<meta property=\"og:description\" content=\"Renowned banks and agencies anticipate a substantial rise in the value of crude oil, with potential global implications. JP Morgan&#039;s Bold Prediction JP\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoMeter.io\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-26T11:24:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-26T11:24:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/05\/jp-morgan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raj Sharma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Raj Sharma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/\"},\"author\":{\"name\":\"Raj Sharma\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/bbfe4a2efa58e681b4208612112f3149\"},\"headline\":\"Crude Oil Prices Predicted to Skyrocket in Coming Years\",\"datePublished\":\"2023-09-26T11:24:27+00:00\",\"dateModified\":\"2023-09-26T11:24:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/\"},\"wordCount\":315,\"publisher\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/05\/jp-morgan.jpg\",\"articleSection\":[\"Business &amp; Economics\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/\",\"url\":\"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/\",\"name\":\"Crude Oil Prices Predicted to Skyrocket in Coming Years\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crude-oil-prices-predicted-to-skyrocket-in-coming-years\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/05\/jp-morgan.jpg\",\"datePublished\":\"2023-09-26T11:24:27+00:00\",\"dateModified\":\"2023-09-26T11:24:29+00:00\",\"description\":\"Renowned banks and agencies anticipate a substantial rise in the value of crude oil, with potential global implications. 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