Oil prices to rebound, Brent seen at $35/ barrel in 2020 – Total

Dhwani Mehta FXStreet

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.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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