Rosneft CEO Sechin forecasts $95-96 oil by year-end if Strait of Hormuz reopens (eco.sapo.pt)

• Forecast of $95-96 per barrel by year-end if Strait of Hormuz reopens
• Six months needed to restore positive rhythm
• Warning of $250 per barrel if Russian exports sanctioned

"Rosneft CEO Igor Sechin stated at the St. Petersburg International Economic Forum that if the Strait of Hormuz reopens now, average oil prices could reach $95-96 per barrel by the end of 2026. He added that it would take at least six months to restore positive rhythm, and after a year prices would settle at $80-85. He warned that if 7 million barrels of Russian crude exports are sanctioned due to the Ukraine war, prices could spike to $250 per barrel."