Standard & Poor’s expects oil to reach $ 65 by the end of 2021

Standard & Poor’s forecasts that the average price of Brent crude oil will reach $ 65 per barrel in the remaining months of 2021, while it expects it to drop to $ 60 in 2022 and $ 55 in 2023.

Demand rates rebounded in the first half of 2021 but may not reach 2019 levels until 2022, said Rawan Qweidat, deputy director of Standard & Poor’s.

He added that the outlook for demand during the remainder of 2021 is still low due to Corona concerns.

He explained, during an agency conference call on Wednesday, that the oil balance could be better in the coming quarters, noting that oil stocks have fallen. in significantly, below the levels of the period from 2015 to 2019, and that was last April of this year.

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