Oil prices to rebound, Brent seen at $35/ barrel in 2020 – Total
|The French oil giant, Total, offers its revision on the Brent oil-price outlook for the next years, given the slump in early 2020.
Key quotes
“New profile is for Brent price at $35 per barrel in 2020, $40 in 2021, $50 in 2022 and $60 in 2023.
The drop in investments in the oil sector since 2015 would result in insufficient global production capacities by 2025 and a rebound in prices.
Beyond 2030, given technological developments, particularly in the transportation sector, Total anticipates oil demand will have reached its peak and Brent prices should tend toward the long-term price of $50 per barrel.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.