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Europe's energy crisis grows

Research and consulting firm Energy Aspects is of the opinion that the energy crisis in Europe will not only last this winter, but may last until the end of next year.

Europe's energy crisis grows

The effects of the energy crisis triggered by the Russia-Ukraine war may continue in Europe next year. "This is not a one-winter story," said Amrita Sen, Petroleum Analyst at Energy Aspects. "Russia needs to stabilize the markets not just this year, but by the end of next year." made its assessment.

While the energy crisis triggered by Russia's Ukraine war sharply increased natural gas prices in Europe, this situation led many countries to take various measures, such as the nationalization of Germany's largest energy company.

Sen shared his prediction that the fluctuating course in oil prices will continue in the last quarter of the year due to effects such as recession concerns and the Kovid-19 cases in China. The expert predicted that the price of oil per barrel would be around $90 in the short term and around $120 at the end of the year. Brent oil is trading around $90 a barrel today. Prices are 30 percent below the peak they saw in June.

The European Union's plan to impose a ceiling price on Russian oil and natural gas products is followed closely by investors.

Sen stated that oil exports from Russia to Asia will continue, but the sanctions imposed on banks will limit this flow.


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