In its report, BoFA argued that below the $50 to $70 price band, oil supply rationing and rapid emerging markets demand growth will push prices higher. Crude oil Brent price forecast for next months and years. Publish your articles and forecasts in our website. But it also highlighted upside risks including – faster-than-expected global oil demand growth; steeper-than-expected production decline rates following the collapse in global E&P capex; increased geopolitical risks; and accelerating global inflation. This makes the production of palm oil more sustainable to other seed crops such soybeans and rapeseeds. Last Month we forecast that without OPEC support, Prices (WTI) could fall into the 30's. The company’s previous oil price outlook forecasted that Brent would average $42.5 per barrel this year, $48 per barrel next year, $50 per barrel in … EIA forecasts Brent prices will average $47/b in the first quarter of 2021 and rise to an average of $50/b by the fourth quarter. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Trade Now . The forecast for higher crude oil prices next year reflects EIA's expectation that while inventories will remain high, they will decline with rising global oil demand and restrained OPEC+ oil production. Crude oil price forecast 2020-2022. Analysts at Fitch Solutions Macro Research have revised their oil price forecasts to 2022 in a new report, which was sent to Rigzone on Tuesday. Brent crude oil prices will average $41.42 per barrel in 2020 and $49.53 per barrel in 2021 according to the most recent forecast from the US Energy Information Administration's (EIA) monthly Short-Term Energy Outlook. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. In the jackup segment, our first attempt at forecasting 2022 demand anticipates a slight drop between now and 2022. Summary Forecast Stats Download Alerts Heating oil decreased 0.63 USD/GAL or 31.01% since the beginning of 2020, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold Price forecast for June 2022. On the supply side, US shale oil producers will deliver “outsized market share gains” by 2022, the report found. The forecast for higher crude oil prices next year reflects EIA's expectation that while inventories will remain high, they will decline with rising global oil demand and restrained OPEC+ oil production. “Oil prices have recovered mostly thanks to OPEC and key non-OPEC players putting an end to a two year price war and agreeing to cut production by 1.8 million bpd. Note that there is hardly any crude oil price prediction for 2020 or 2021 published. So OPEC spare capacity has expanded. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. High price 2564, low 2320. This rebalancing in global inventories will likely encourage oil prices to trade within our expected band over the next five years,” it added. “On our latest estimates, oil demand should keep growing by 1.1 million bpd per annum out to 2022, driven entirely by emerging markets.”. World Bank Commodities Price Forecast (nominal US dollars) Released: July 20, 2015 Commodity Unit 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Energy High price 68.02, low 66.00. Detailed forecast table. About the Global Oil & Gas Limited stock forecast. The publication is a means to highlight and further the understanding of the many possible future challenges and opportunities that lie ahead for the oil industry. Direct access to our calendar releases and historical data. Oil price forecast for 2020, 2021, 2022 and 2023. 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