Fitch agency published a prognosis for oil prices

Fitch analysts deem that in 2022 the average cost of a Brent oil barrel will be nearly $70. In 2023, it will drop by $10 to $60. And next year it will drop another $7 to $53. In the future, the oil will continue to fall in price in connection with the implementation of the program for the environmentally friendly energy transition. At the same time, Fitch analysts warned that the presented forecast is rather conservative. Some risks can cause oil prices both to feel and to grow significantly. Interruptions in the oil supply will conduct to a rise in the price of raw materials. In addition, it is not obvious yet how the situation connected to the pandemic will develop in the future. The increase in the number of fells seeks will put pressure on demand, and hence oil prices. At the same time, the agency’s analysts expressed hope that the OPEC+ countries will supervise the market situation and, if necessary, make appropriate decisions. However, the uncertainty factor will continue to affect the global economy and commodity markets.


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Arseny Kudrin

Publicist, trader

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