KARACHI: The Macro and Strategic Asset Allocation Head Dr Salman Ahmed said that the price of one barrel of oil may rise to $150 in 2022. He expressed these views while talking to the KTrade Annual Investor Summit.
According to Dr Ahmed, during the last seven years, no investment has been made in the supply area and oil consumers were facing a competitive atmosphere. The price increase will continue to create a drop in its demand.
He further added that the demand for automobiles would also fall in 2022. The hike in the interest rate and depreciation of the currency have raised the prices of cars. However, he predicted that due to an increase in lending rates, the commercial banks could have a better year.