Media predicted a drop in Brent oil prices due to the end of the conflict in Ukraine

The resolution of the conflict in Ukraine may lead to a decrease in the price of Brent crude oil, as well as to an increase in the production of resources. This was reported by The Wall Street Journal (WSJ) on February 17 with reference to analysts at Bank of America.

"We believe that Brent oil prices could fall by $5-10 per barrel if Russian oil will not have to be transported by a complex route to India or China, and supplies will become more affordable," - stated in the material.

According to the publication, the difference between the price and the cost of global oil refining may also decrease.

Nevertheless, price risks remain, as the U.S. may strengthen sanctions against Russia, if the negotiations on Ukraine "will reach an impasse".

Donald will give: experts predict the collapse of OPEC and OPEC+

The new US president has lifted restrictions on the country's oil production

Earlier, on February 14, US leader Donald Trump said during a meeting with Indian Prime Minister Narendra Modi at the White House that the US intends to become India's number one supplier of oil and gas. According to him, they have managed to reach an agreement in the energy sector. The US President added that during the conversation he agreed with the Indian Prime Minister that the states would engage in joint mining and processing of critical minerals.