Oil prices: Expect a 'few years of pain' after 2022, analyst says
Ines Ferré - Yesterday 8:00 AM
Although crude oil prices plunged on Friday, energy costs in the coming years could be a different story, an oil analyst says.
“I think the energy transition is going to be moving into another quarter,” Tom Kloza, Global Head of Energy Analysis told Yahoo Finance Live (video above). “That is going to herald really the next few years of pain.”
Russia's invasion of Ukraine has kept oil and other energy costs at historically elevated levels as Europe is forced to dislodge its dependency on Russian natural gas.
After Russian President Vladimir Putin called for a partial military mobilization earlier this week, Kloza noted that Russia cutting off the flow of crude oil and refined products is "still very, very much a threat."
https://www.msn.com/en-us/money/markets/oil-prices-expect-a-few-years-of-pain-after-2022-analyst-says/ar-AA12dwdB?ocid=msedgntp&cvid=301a342a80ca4803a7df9cbd79020f3c
