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Fitch expects Brent crude to average $102 this year
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Economy News-Baghdad
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Added 11/19/2022 - 9:04 AM
Updated 11/19/2022 - 1:54 PM
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Economy News-Baghdad
Fitch Solutions, in a report sent exclusively to RigZone, the site that provides news and job opportunities in the oil and gas industry, expects the average Brent crude price to reach $102 this year, then drop to $95 in 2023 and then $85 in 2023. Year 2026.
The agency stated that the downward revision of its forecast for the average price of Brent crude this year instead of its previous estimate of $105 per barrel reflects the decline in prices recorded in recent months, a decline in market sentiment and a deteriorating macroeconomic environment.
Fitch added: Nevertheless, the “OPEC +” measure helps to maintain a minimum price level, and it sees the possibility of a short-term rise in prices during the winter season, in light of tight global energy markets, a seasonal boost in demand and a further decline in Russian exports.
Views 117
Added 11/19/2022 - 9:04 AM
Updated 11/19/2022 - 1:54 PM
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