World: against the backdrop of tensions between Russians and Ukrainians, the barrel of crude oil climbs to 104.80 USD on the international market
The price of crude oil has gained momentum on the international market, in a context marked by rising tensions between Ukraine and Russia.
The barrel, the brent (type of crude oil used as a standard in the fixing of the price) of crude oil, exceeded the symbolic bar of 100 USD to settle at 104.80 USD on February 24, 2022. A record that it you have to look back 8 years, in 2014.
In this year 2014, in a context of imposition and tightening of international sanctions against Tehran and geopolitical tensions in the Middle East, the price of “brent” had risen above 100 dollars per barrel.
According to industry experts, this situation is linked to the launch of military operations in Ukraine by Vladimir Putin, which caused oil prices to jump.
Indeed, this tension could cause a fall in oil production in Russia which, at present, is the world number 2 in crude oil after the United States.
If this tension persists between the two countries, but also the toughening of the economic sanctions taken by Europe, London and the United States of America against Russia, this would obviously lead to a shortage of oil on the international market. The price of crude oil could be revised upwards.
If this upward trend is confirmed for a long period, it can help African countries such as Nigeria, Africa’s leading oil producer, Angola and Congo, which will see an improvement in their export earnings.
The situation would also offer a boon to the Democratic Republic of Congo (DRC) to take advantage of the opportunity to develop its various oil deposits and thus maximize revenue.
To date, the DRC, in terms of hydrocarbons, is far from playing in the big leagues.
Limited to the coastal basin in Kongo Central province, crude oil production is capped at 8 million barrels per year. However, the potential of the Democratic Republic of Congo is estimated at 20 billion barrels per year.
However, the rise in the price of oil should at the same time lead to other situations, in particular the rise in the cost of transport and the strengthening of inflationary pressures.
