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Expected to be softer
- Prices for crude oil are expected to be softer in the early part of 2022 when compared to the strong 2021 values as a whole.
www2.deloitte.com/ca/en/pages/press-releases/articles/easing-of-crude-oil-prices-in-early-2022.htmlDeloitte Canada predicts an easing of crude oil prices in ...
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The WTI price followed a similar path as the Brent crude oil price in 2022, averaging $5/b less than the Brent crude oil price, compared with $3/b less in 2021. The Brent-WTI crude oil spread (the difference between the two prices) increased in 2022 relative to 2021 because European countries needed to replace crude oil supplies they were importing from Russia with crude oil from another source.
Jan 7, 2022 · Crude oil prices are expected to be subdued in the early months of 2022 compared to the relative strength of 2021. That’s according to a report from Deloitte which cites growing global supply as investment returns to the sector, together with demand concerns due to the pandemic, especially with the new variant.
Nov 18, 2021 · In our November Short-Term Energy Outlook (STEO), we forecast that rising production from OPEC+ countries and the United States will lead to global liquid fuels inventories increasing and crude oil prices falling in 2022. We estimate world crude oil consumption exceeded crude oil production for five consecutive quarters, starting in the third ...
Jan 19, 2022 · We have raised our global demand estimates by 200 kb/d for 2021 and 2022 – resulting in growth of 5.5 mb/d and 3.3 mb/d, respectively – due to softer Covid restrictions. World oil supply in 2022 has the potential for a Saudi-driven gain of 6.2 mb/d if OPEC+ fully unwinds its cuts.
May 12, 2022 · High crude prices and exceptional product cracks are supporting strong inflation trends. Pressure mounting Russia’s isolation following its invasion of Ukraine is deepening as the EU and G7 contemplate tougher sanctions that include a full phase out of oil imports from the country.
Oct 13, 2022 · Benchmark crude oil prices spiked by around $14/bbl from a September low and Brent once again flirted with triple digits. With unrelenting inflationary pressures and interest rate hikes taking their toll, higher oil prices may prove the tipping point for a global economy already on the brink of recession.
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