Due to its fast ramp-up and rapid decline, US light tight oil (LTO) production is more responsive to a change in the oil price than conventional sources of supply. In the beginning price at 57.96 Dollars. The Oil Price forecast at the end of the month 57.37, change for May -1.0%. The US's oil production will slow to an average of 11.8 million barrels per day in 2020 and 11 million barrels per day in 2021, the Energy Information Administration announced Tuesday. In 2008, oil prices reached a record high of $127/b. The average for the month 57.52. The Euro may start rising at 3 price levels. High price 58.23, low 56.51. Since its inception in 1983, the IEA's Oil Market Report (OMR) has become recognised as one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for OECD and selected non-OECD countries. Brent oil price forecast on Friday, June, 26: price 49.93 Dollars, high 50.68, low 49.18. For 2021, Standard Chartered expects WTI Crude prices to average $41 a barrel, down from its previous estimate of $63. A price of $40/bbl would cause LTO output to decline from 2021, and fall by 1.1 mb/d to 2025, compared with growth of 2.2 mb/d in our base case. Brent oil price forecast for May 2021. Oil Price forecast on Tuesday, June, 23: price 48.79 Dollars, high 49.52, low 48.06. Goldman Sachs raised its estimate for WTI Crude prices in 2021 to $51.38 per barrel from $48.50, expecting a gradual recovery in global oil demand and production cuts from OPEC+ and shut-ins elsewhere to support oil prices next year. Brent oil price forecast on Wednesday, June, 24: price 48.82 Dollars, high 49.55, low 48.09. The EIA previously expected Brent spot prices … In the beginning price at 57.37 Dollars.
This is a decrease from an average of $64.36 per barrel in 2019 and reflects a downward revision of $3.58 per barrel for 2020 compared to the previous estimate. Worldwide crude oil prices will average $34 a barrel for 2020 and $48/b in 2021. That's when the Organization for Economic Cooperation and Development forecast that the price of Brent oil could go as high as $270/b. Commodity Forecast & Price Predictions with Prognosis Charts 2020-2021 Showing 1-25 of 25 items.
However, this price premium will diminish in the first half of 2020, and market fundamentals will drive the crude oil price forecast in the second half of 2020 and in 2021. They dropped to $36.84/b before rising to $104.06/b in 2013. Goldman Sachs is not expecting oil prices to jump too much in coming weeks But out to next year it remains bullish, sees a gradual recovery in oil … Read More » Oil prices started strong at $61/b in January 2020. Either at current levels in which case we expect a short term rise in crude.