EIA expects crude oil prices to average near $50 per barrel through 2022

EIA expects crude oil prices to average near $50 per barrel through 2022
WESPECH PTE LTD
8 Eu Tong Sen Street #14-94, The Central, Singapore (059818)
+65 315 904 24

21.01.2021

In its January Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) expects global demand for petroleum liquids will be greater than global supply in 2021, especially during the first quarter, leading to inventory draws. As a result, EIA expects the price of Brent crude oil to increase from its December 2020 average of $50 per barrel (b) to an average of $56/b in the first quarter of 2021. The Brent price is then expected to average between $51/b and $54/b on a quarterly basis through 2022.

Full article at eia.gov

Back

news