Among these concerns and other factors As well we start to hear people talk About triple digits on a barrel of oil How likely is it that we reach a hundred Dollars Hi danny if you talk to analysts and Traders it's actually quite difficult to Find oil bears at the moment most of Them i would say um are saying oil Prices can continue to go up from from Here and a lot of them are saying it's Only a matter of time before we hit 100 Dollars a barrel what what those people Are citing is strong demand and they're Saying that omicron hasn't really hit Oil consumption all that much globally And at the same time we've got some Supply issues some of the world's major Producers are struggling to increase Output right at a time when global Infantries And spare capacity is pretty low How much of the risk premium though Would we attach to the ukraine russia Tensions Yeah that's another thing that's Happening in the market at the moment i Think there is quite a high Geopolitical risk premium um Priced into to crude at the moment if There was a sudden de-escalation um and It it all of um it became clear that There would be no conflict um over Ukraine i think oil prices would pull
Back that's what most analysts and Traders are saying we don't know it's Very difficult to tell by how much Whether we're talking five dollars a Barrel less more um but definitely that Would be something that Would probably help Push push prices down Will tomorrow's opec plus meeting be as Quick as expected or or is there any Chance that we get a surprise from them It is Opec plus obviously meets monthly and Tomorrow's meeting is is one that Most people in the oil market expect to Be very quick and smooth they think that The group will Ratify An output increase of 400 000 barrels Per day for next month for for for march Um but interestingly The goldman sachs put out a note last Night saying that there could be a Surprise and that because of the run-up In oil prices this year opec plus might Actually be a bit more aggressive and do More than or agree to more than 400 000 Uh barrels Per day that's not the consensus in the Market there um the consensus is very Much for 400 000 per day but that that Surge in oil prices this year but you Know brenton wti are up 15 percent um Um does
It is definitely something that opec Plus will consider
