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Crude on course to spike by March but may trade below $100 a barrel: MC Poll

Moneycontrol conducted a poll to gauge sentiments towards crude oil prices and how fuel prices in India would, in turn, be impacted.

December 19, 2022 / 09:05 AM IST

Benchmark Brent oil prices are seen rising from current levels by March but are unlikely to breach $100 a barrel, according to a poll conducted by .

A survey of 14 energy experts from brokerages and rating agencies reveals that they expect some upward pressure on the price of crude oil but are divided on the quantum of the increase. Five experts said it would be at $80-90 a barrel and the same number said it would be in the $90-100 range.

On December 14, the Brent crude price rose more than 2 percent to settle at $82.70 per barrel.

The price of crude oil has remained volatile in 2022 due to several factors, including geopolitical tensions building up ahead of Russia’s invasion of Ukraine in February. The volatility has continued since then, amid recession fears sparked by a weakening global economy and demand uncertainty in China on account of its zero Covid-19 policy.