For the first time in eight years!International oil prices topped $100 a barrel

2022-05-25 0 By

Brent crude hit $100.80 a barrel yesterday, breaking the $100 mark for the first time in eight years in a rare sign of market stress.There are two main reasons for the recent rise in international oil prices.One is that demand for oil is surging as the global economy recovers, but Opec said its producers increased production by just 64,000 barrels a day in January, far short of its planned 250,000 barrels a day, fueling oil prices with a supply-demand imbalance.Second, the situation between Russia and Ukraine has raised concerns about oil supply disruptions.However, the analysis believes that if the russia-Ukraine situation can be eased at a speed visible to the naked eye, the oil price risk premium will be more likely to fall.(Intern Editor: Fan Shiyan)