Expert: Oil prices may continue their rise

Credit: Igor Zerembo | RIAN

The price of oil may continue its upward journey, said Vladislav Antonov, analyst at the Alpari information and analytical center.

According to the expert, crude oil reserves have grown by 5.7 mio barrels in the past week, with oil production levels remaining at about 11 mio barrels per day, Regnum reported.

Brent crude price rose by 1%, with investors disregarding the growing oil reserves, Vladislav Antonov noted.

This and next year the global demand for oil may increase by 190,000 barrels per day, the expert said. Brent crude was traded for $43.2 per barrel during the Asian trading session; its price may rise to $45 per barrel in the near future.  

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