The International Energy Agency (IEA) does not rule out the next price rally in the oil market in 2023 due to the impact of the embargo on Russian oil and oil products.

"APA-Economics" informs about this with reference to the Agency's monthly report.

"The decline in oil prices is welcome relief for consumers facing rising inflation, but the full impact of the embargo on Russian oil and oil products is still not fully felt. As the winter months pass and oil balance sheets tighten in the second quarter of 2023, further price increases cannot be ruled out. ", the report states.

It is noted that in November of this year, the global daily oil supply decreased by 190 thousand barrels to 101.7 million for the first time in five months after the Gulf countries began to reduce production within the framework of the OPEC+ agreement.

fell into the barrel.

At the same time, according to BEA, the daily demand for oil in 2022 will reach 2.3 mln.

barrels will increase and 99.9 mln.

can reach 1.7 million barrels in 2023.

barrels increased to 101.6 mln.

barrel can be arranged.

It should be noted that on December 5, an embargo on the transportation of Russian oil to the EU countries by sea came into force.

Also, the decision of the EU countries, G7 and Australia to set the regulated price limit for Russian oil supplied by sea at $60 per barrel and to prohibit the transportation and insurance of Russian oil above this limit began to take effect.