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- In the July Short-Term Energy Outlook (STEO), we forecast the Brent crude oil price will average $72 per barrel (b) in the second half of 2021 (2H21) and $67/b in 2022, both $6/b higher than in the June STEO forecast.
www.eia.gov/todayinenergy/detail.php?id=48716Brent crude oil price forecast to average $72 per barrel in ...
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Mar 17, 2021 · Oil 2021, the IEA’s latest medium-term outlook, explains why. Rapid changes in behaviour from the pandemic and a stronger drive by governments towards a low-carbon future have caused a dramatic downward shift in expectations for oil demand over the next six years.
Dec 14, 2021 · Global oil demand is now set to rise by 5.4 mb/d in 2021 and by 3.3 mb/d in 2022, when it returns to pre-pandemic levels at 99.5 mb/d. Global oil production is poised to outpace demand from December, led by growth in the US and OPEC+ countries.
Jan 4, 2022 · Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy resulted in global petroleum demand rising faster than petroleum supply. The spot price of Brent crude oil, a global benchmark, started the year at $50 per barrel (b) and increased to a high of $86/b in ...
Oct 14, 2021 · Global oil demand is now forecast to rise by 5.5 mb/d in 2021 and 3.3 mb/d in 2022 when it reaches 99.6 mb/d, slightly above pre-Covid levels. World oil supply has resumed its uptrend as OPEC+ continues to unwind cuts, the US bounces back from Hurricane Ida and maintenance winds down.
We project world oil demand will only increase 300,000 b/d from third to fourth quarter 2021. This slowdown will place greater importance on oil supply restraint if prices are to continue rising. The 2021 oil demand spike gave Saudi Arabia and OPEC+ greatly enhanced, but temporary, oil market power.
Jun 11, 2021 · Following a record decline of 8.6 mb/d in 2020, global oil demand is forecast to rebound by 5.4 mb/d in 2021 and a further 3.1 mb/d next year, to average 99.5 mb/d. By end-2022, demand should surpass pre-Covid levels.
Jul 8, 2021 · In the July Short-Term Energy Outlook (STEO), we forecast the Brent crude oil price will average $72 per barrel (b) in the second half of 2021 (2H21) and $67/b in 2022, both $6/b higher than in the June STEO forecast.
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