Fitch predicts oil prices for 2021

31 Jul, 2020

The price of Brent oil in 2021 may rise to about $ 45 per barrel on average for the year, and up to $ 53 per barrel in 2021. In 2020, it will be about $ 45, and after 2022 it will be at $ 55, Fitch Ratings noted.

According to it, the price of American WTI oil will be at $ 3 per barrel cheaper than Brent in each of the years, that is, in 2021 its price will be $ 50 per barrel.

Fitch notes that prices will rise due to the OPEC + oil production cut deal.

We expect OPEC + to continue regularly adjusting the two-year deal reached in April 2020 to avoid a large production surplus or deficit, which supports our expectations of a gradual recovery in oil prices, the report noted.


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