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Experts at Fitch Ratings, the international rating agency, expect that OPEC member countries and their partners will be able to keep Brent’s oil prices above $60 per barrel. This was reported on finversia.ru. Nevertheless, constantly increasing production in the United States will prevent prices to rise above $70 per barrel. Therefore, Fitch predicts that in 2020 the price of Brent will average $62.5 per barrel, and in 2021 it will drop to $60 per barrel. The forecast for 2019 has been kept at $65 per barrel. Evaluating the long-term perspective in the oil market, the agency's experts believe that the price of Brent will drop to $57 per barrel, and WTI - to $55 per barrel.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
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