The world’s largest commodity traders do not exclude that by the end of this year oil will soar to $100 per barrel.

It will grow due to a slowdown in investments in new supplies against the background of the peak demand after the pandemic, according to the prediction of market players, including top managers and executives of Vitol, Glencore and Trafigura, as well as experts from Goldman Sachs bank. Vitol CEO Russell Hardy called the $100 mark per barrel as “probable.” However, he noted that there is a supply reserve of about five million barrels, inasmuch as OPEC+ countries are still limiting supplies.

“If you reduce supply without simultaneously meeting demand, you can get a price spike,” said Alex Sanna, chief oil trader at Glencore.