BRICS: JP Morgan Predicts Crude Oil To Reach $150 Per Barrel
The majority of BRICS members export crude oil around the world, including the U.S., Europe, and other Western allies. Saudi Arabia, the UAE, Iran, Egypt, Ethiopia, and the now-sanctioned Russia export millions of barrels of oil each year. Crude oil is currently priced at $90 per barrel, and leading investment bank JP Morgan predicted that the commodity will rise another 67% in the next three years. Also Read: BRICS Countries Dump $123 Billion in U.S. Treasuries in 2023 BRICS: Crude Oil To Reach $150 Per Barrel, According to JP Morgan Source: AFP / RODGER / BOSCH / atalayar.com Christyan Malek, JP Morgan ’s lead for EMEA energy equity research published a report citing that “energy super cycle” will lead to crude oil prices to soar to $150 per barrel. According to the report, crude oil could reach $150 per barrel in the next three years in 2026. The growing energy supercycle could be the sole driving force for the price surge, wrote Malek in the report. ...