Barclays raised its 2022 oil price forecasts on Tuesday as it expects a faster-than-expected inventory drawdown and cautious supply response to offset a modest surplus next year. The bank raised its 2022 average price forecast by $3 to $80 and $77 per barrel for Brent and West Texas Intermediate (WTI) respectively. Oil prices fell on…
Barclays Raises 2022 Oil Price View on Faster Inventory Drawdown
November 25, 2021
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Goldman Sees Upside Risks to $90/Bbl Brent Price Forecast
Goldman Sachs said a strong rebound in global oil demand could push Brent crude oil prices above its year-end forecast of $90 per barrel. The U.S. investment bank said it expected oil demand will shortly reach pre-COVID-19 levels of around 100 million barrels per day (bpd) as consumption in Asia rebounds after the Delta COVID-19…
A Historic Oil Price Collapse, With Worries Headed Into 2021
NEW YORK—This year was like no other for oil prices. Even as global prices end the year at about $51 a barrel, near the average for 2015–2017, it masks a year of volatility. In April, U.S. crude plunged deep into negative territory and Brent dropped below $20 per barrel, slammed by the COVID-19 pandemic and…
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