Oil prices set records, but Russian ruble doomed to decline further

The price of Brent oil exceeded $89 per barrel for the first time since October 13, 2014. Economists do not rule out a possibility for the price of a barrel of oil to exceed $100 in the first quarter of 2022 as the coronavirus pandemic gradually retreats and the demand for oil recovers. However, many analysts believe that by the end of 2022, the price of oil will remain at a level close to that reported in the beginning of January. There is still excessive supply of oil on the world market as many countries still implement or plan to implement lockdowns.