What is the outlook for oil in 2021?

In the August STEO, EIA forecasts that total world petroleum production will average 98.9 million barrels per day (b/d) in the second half of 2021 (2H21), down from a forecast of 99.4 million b/d in the July STEO (Figure 1).

Will oil prices go up in 2022?

WTI Oil Price to Average $75 in 2022 and Remain Elevated for Years, Raymond James Predicts. “In order to reach a balanced market by the end of 2022 (and beyond), pricing will need to be at sufficiently high levels to spur the industry to get out of its austerity mode,” the Raymond James analysts said.

What’s the price of oil for September 2022?

The Oil Price forecast at the end of the month 126.18, change for August 4.3%. Brent oil price forecast for September 2022. In the beginning price at 126.18 Dollars. High price 126.18, low 116.58.

What was the price of oil in February?

The Oil Price forecast at the end of the month 23.61, change for January -1.0%. Oil Price forecast for February 2021. In the beginning price at 23.61 Dollars. High price 23.61, low 21.82. The average for the month 22.80. The Oil Price forecast at the end of the month 22.15, change for February -6.2%. Brent oil price forecast for March 2021.

What’s the forecast for oil prices in 2020?

EIA forecasts balances to tighten later in 2020 and expects Brent prices to rise to an average of $62/b in the second half of next year. The resulting forecast average price in 2020 is $60/b, $2/b lower than forecast in the September STEO. EIA’s October forecast recognizes a higher level of oil supply disruption risk than previously assumed,…

What was the price of oil in 2014?

Prices fell from $112 for Brent and $105 for WTI in June 2014, to under $36 for both by January 2016. OPEC responded by cooperating with several countries – including Russia – to implement broader ‘production quotas’ designed to stabilise prices.