Some have permanent impact (e.g. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from, Show sources information A map is also provided for the percentage of taxes in the fuel price. In its August Short-Term Energy Outlook, the US Energy Information Administration forecasts Brent crude oil spot prices will average $41/bbl in 2020 and $50/bbl in 2021 and WTI spot prices will average $39/bbl in 2020 and $46/bbl in 2021. facts. The forecast anticipates a slow recovery in consumption that is countered by a gradual easing in production restrictions among OPEC+. In the beginning price at 86.78 Dollars. Non-energy prices rose 2.7% in April (+42.1% from April 2020). Mass layoffs and heightened cyclicality in employment continue to challenge the industry’s reputation as a reliable employer. Stay ahead of the curve with the Argus Base Oils Outlook product — a monthly service that forecasts key base oils prices up to 12 months into the future. The current upside momentum suggests the market has enough fire power behind it to fuel a test of the March 8 main top at $67.29 over the near-term. Among subgroups, agriculture commodities rose 1.9% and metals and minerals jumped 4.6%. Recently released EIA data show that average monthly US oil production for May was 1.2 million b/d lower than the July STEO forecast, indicating more extensive production curtailments than previously estimated. Oil Outlook: 2020 And Beyond. Here is their US Crude oil prices forecast 2020 – 2022: According to their Brent oil price analysis and forecast, the commodity is prognosed to close 2020 trading at $38.77 per barrel. EIA estimates that demand for global petroleum and liquid fuels averaged 93.4 million b/d in July, down 9.1 million b/d from July 2019, but it was up from an average of 85.0 million b/d during second-quarter 2020, which was down 15.8 million b/d from year-ago levels. Read More » A Record Breaking Pace of Price Increases April 27, 2021 EIA now expects crude production to average 11.3 million b/d in 2020 and 11.1 million b/d in 2021, down from 12.2 million b/d in 2019. For the subsequent period of 6 months, from 1 July 2020 to 31 December 2020, the total adjustment agreed will be 7.7 mb/d. Price reporting. Our outlook looks back at 2020 and presents our most-likely scenarios for oil demand, supply, and prices through 2040. 01, 2020 8:35 AM ET ... What we would add to that is the base decline rates are significantly higher than they were in 2016. Monthly advisories and detailed reports on petrochemicals market in India. Exports of U.S. oil and liquefied natural gas (LNG) are … Oil prices have increased in absolute terms and relative to other fuels, with a record premium to natural gas prices … Rising demand of Group I and Group II base oils in the automotive industry is projected to remain a key driving factor for market growth EIA now estimates that global liquid fuels inventories rose at a rate of 6.4 million b/d in the first half of 2020 and expects they will decline at a rate of 4.2 million b/d in the second half of 2020 and then decline further by 800,000 b/d in 2021. Register in seconds and access exclusive features. Maps providing prices (in euros) for diesel oil and euro-super 95 in all EU countries. Crude oil prices developed a narrow trading range in July as price volatility declined to the lowest levels since January 2020. However, demand still trails pre-pandemic levels. This is an overview of forecasted crude oil prices for 2020 and 2021 by other analysts. “Market forecasts are still pointing to crude oil remaining flat or even falling in the immediate future. The decline reflects voluntary production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and partner countries (OPEC+), and reductions in drilling activity and production curtailments in the US because of low oil prices. EOR, alternative ... 2020 40 2 2010 36 2005 34 2.1% 8.6% 3.6%-1.1% Group II base oils are a better grade than the Group I base oils, partially produced by hydrocracking. The front-month futures price for Brent crude oil settled at $45.09/bbl on Aug. 6, 2020, an increase of $3.06/bbl from July 1, 2020. EIA has lowered US crude oil production estimates for 2020 by 370,000 b/d from the previous STEO. Crude oil prices are forecast to average $60/bbl in 2019 and $58/bbl in 2020—a sharp downward revision since April. Similarly, oil prices and energy stocks have underperformed base metals and the broader S&P 500 index by about 10% and 25% and 6% and 10%, respectively, since July 2020. But US production will still grow in, the oil price forecast 2020 sees more than 1 million bpd, according to nearly all major forecasts. Crude Oil Price: Oil tumbles 4% on concerns over Europe curbs. A US appeals court has overturned the lower court decision, allowing the pipeline to remain running while further litigation proceedings continue. The Argus Base Oils service includes the only publication to capture the full spectrum of base oils trade in the international market in a single report. The international Energy Agency, for its part, forecast average demand growth this year would be 1.1 million bpd, unchanged from its earlier monthly estimate, and in 2020, it … The US and Iran have remained at a standstill over a mutual return to the Joint Comprehensive Plan of Action, as both sides adopted a “you go first” approach, but this week marked a new start as Iranian diplomats hold talks with the P4+1. Oil pricesare projected to average $41/bbl in 2020 before rising to $44/bbl in 2021, an upward revision from the April forecast of $35/bbl and $42/bbl. Crude oil prices are forecast to average $60/bbl in 2019 and $58/bbl in 2020—a sharp ... Base metals and ore prices fell 2 percent, largely reflecting concerns about demand and ... partners will be sustained into 2020. Base Oil Market 2020 report provides comprehensive analysis of Base Oil Production, Supply, Sales and Demand of the Base Oil Industry Globally (North America, Europe and Asia-Pacific, South America, Middle East and Africa). ", Total, Base oil regional supply forecast worldwide in 2020, by group (in million tons per year) Statista, https://www.statista.com/statistics/726315/regional-base-oil-supply-forecast-by-group/ (last visited May 12, 2021), Base oil regional supply forecast worldwide in 2020, by group, Global oil production in million metric tons 1998-2019, Rate of return on crude oil investments worldwide 2010-2020, Proved oil reserves share by country 2019, Global oil reserves share by leading country 2019, Global oil production share by region 2010-2019, Oil production in barrels per day - top fifteen countries 2019, OPEC - share of total global crude oil production 2009-2019, Transport volume of crude oil in seaborne trade 2010-2019, Oil exporters worldwide by region in 2019, Global crude oil export value by country 2019, Leading crude oil importers worldwide 2019, West Texas Intermediate annual average oil price 1976-2021, 2020 global list of the top oil and gas companies based on revenue, Leading oil and gas producers based on market cap April 2021, Value of revenue of Saudi Aramco 2017-2019, Global consumption in million metric tons 1970-2019, Global oil consumption share by region 2019, Largest oil consumption worldwide by country 2019, Leading oil demanding sectors in the OECD 2019, Monthly global liquid fuels consumption 2019-2021, Monthly global liquid fuels consumption by region 2019-2021, Global oil products demand outlook 2019-2045, Share of projected base oil demand worldwide by type 2015-2030, Distribution of projected base oil demand worldwide by region 2015-2030, Projected base oil demand worldwide 2015-2030, Distribution of global lubricant market by base oil 2014, Valvoline's Quick Lubes revenue 2008-2020, Domestic market of lubricants in France 2018, by type of lubricant, Breakdown of of oil changes performed at fast lube shops in the U.S. 2019, Distribution of global lubricant market by application 2014, Engine oil brands most recognized by consumers in Russia 2019, Automotive engine oil market demand in the United States 2017-2025, Leading engine oil brands preferred by consumers in Russia in 2018, World oil reserves recoverable under current economic conditions 2010, Base oil regional supply forecast worldwide in 2020, by group (in million tons per year), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. In, Total. Chart. Latest Taxation share in the consumer price of Euro-Super 95 and diesel oil. Are you interested in testing our corporate solutions? Global petroleum demand continued to recover in July, but continued growth in global coronavirus cases could bring renewed lockdown measures and presents considerable uncertainty to global oil demand for the remainder of the year. Read More » Please contact us to get started with full access to dossiers, forecasts, studies and international data. Projection of the wholesale price of crude oil in the United Kingdom (UK) 2020-2040 Crude oil imports from Saudi Arabia to Japan FY 2019, by oil type Crude oil … The report analyzes the global base oil market for the period from 2017 to 2026, wherein 2017 is considered the base year and the period from 2018 to 2026 the forecast period. Rising demand of Group I and Group II base oils in the automotive industry is projected to remain a key driving factor for market growth You only have access to basic statistics. Total U.S. crude oil and petroleum net exports are expected to average 570,000 bpd in 2020 compared with average net imports of 490,000 bpd in 2019, according to … EIA forecasts that the Bakken region will have the next largest crude oil production growth in 2019, and it is forecast to grow by 152,000 bpd in 2019 and 96,000 bpd in 2020. Crude Oil Predictions by other Analysts. Natural gas production in the US is set to grow to a record 93,3 bcfd in 2022 and will continue to rise, exceeding 100 bcfd in 2024, according to Rystad Energy. Oil Outlook: 2020 And Beyond. 01, 2020 8:35 AM ET ... What we would add to that is the base decline rates are significantly higher than they were in 2016. Please create an employee account to be able to mark statistics as favorites. The Global Base Oil Market size was estimated at around 35 million metric tons in 2020 and the market is projected to register a CAGR of around 2.5% during the forecast period (2021-2026). Base oil regional supply forecast worldwide in 2020, by group (in million tons per year) [Graph]. The global base oil market size was valued at USD 24.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2020 to 2027. We currently base our forecasts on Brent oil prices of USD35/b in 2020 and USD45/b in 2021. The Argus Base Oils service includes the only publication to capture the full spectrum of base oils trade in the international market in a single report. EIA estimates that US liquid fuels consumption averaged 16.2 million b/d in the second quarter of 2020, down 4.1 million b/d (20%) from the same period in 2019, reflecting travel restrictions and reduced economic activity related to COVID-19 mitigation efforts. Please do not hesitate to contact me. It is suitable for making gear oil, premium engine oil and hydraulic oil. OPEC+ agreed Apr. BASE OILS OUTLOOK 2020 Rising costs and tighter supply weighed on US base oil markets to start 2020, pressuring posted price levels that had been steady since spring 2019. In its August Short-Term Energy Outlook, the US Energy Information Administration forecasts Brent crude oil spot prices will average $41/bbl in 2020 and $50/bbl in 2021 and WTI spot prices … * Former Soviet Union. COVID-19 sent shocks through global oil markets, with oil demand and supply still struggling to return to pre-pandemic levels. The price graph will mainly remain flat during the following years, with oil hiking pass the $50 mark for the first time at the end of 2022. In the AEO2020 High Oil Price case, the price of Brent crude oil, in 2019 dollars, reaches $18 3 per barrel (b) by 2050, compared with $105/b in the Reference case and $46/b in the Low Oil Price case. Please authenticate by going to "My account" → "Administration". The LME index climbed above 4,000 points, a level not seen since August of 2011, and is now up roughly 90% from its March 2020 lows. By the end of January, most US posted prices had risen by 20-30 cents/gal across Groups I, II, II+ and III on the back of a firm trend in upstream prices and a Then you will be able to mark statistics as favourites and use personal statistics alerts. Oil prices have increased in recent years, averaging about $80 in 2010 and well above $100 so far this year, which would be the highest (nominal) price on record. The estimates show that total oil demand in 2022 will continue to rise, reaching about 99.4 million b/d. At present, few countries require producers to either pay a carbon tax or participate in an emissions trading scheme (ETS). Statista. Rystad Energy projects a 6% year-on-year increase in oil demand in 2021, climbing to an average of 95.4 million b/d from 89.6 million b/d in 2020. Chevron Corporation (US), Exxon Mobil Corporation (US), S-OIL Corporation (South Korea), Motiva Enterprises LLC (US), SK innovation Co., Ltd. (South Korea), Royal Dutch Shell plc (Netherlands), Neste Oyj (Finland), AVISTA OIL AG (Germany), Nynas AB (Sweden), Repsol S.A. (Spain), Ergon, Inc. (US), Calumet Specialty Products Partners, L.P. (US), H&R Group (Germany), Sinopec Corp. (China), PetroChina Company Limited (China), Saudi Aramco (… In its April Short-Term Energy Outlook, the US Energy Information Administration forecasts a tighter oil market in second-quarter 2021, due to lower-than-expected production from the Organization of the Petroleum Exporting Countries. Base oil Increases There have been five base oil price increases since December 2020, and another set to take effect end of this month. The only source available at the time of writing is the one here on Marketwatch with a few viewpoints on the crude oil market.. You need a Single Account for unlimited access. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. The impact of the lower crude prices on the global base oil markets ... What is the global oil market outlook? All rights reserved. This feature is limited to our corporate solutions. However, some forecast that crude oil prices will remain flat in calendar-year 2020. Accessed May 12, 2021. https://www.statista.com/statistics/726315/regional-base-oil-supply-forecast-by-group/, Total. The Oil Price forecast at the end of the month 86.78, change for December -6.2%. World oil-weighted real gross domestic product (GDP) declined 9.3% in second-quarter 2020—one of the largest declines for any quarter on record—however, a number of leading indicators suggest increases in economic activity since then in some sectors, such as manufacturing. In the natural gas market, spot prices have hov-ered around record lows in recent months amid large inventories left in place after a mild winter, weak demand, and subdued oil prices. Industry Outlook & Drivers Global Base Oil Market Outlook. Oil Price forecast for January 2022. In the beginning price at 94.45 Dollars. Lubricating Base Oil Market 2020 Outlook by Import, Export, Production and Consumption by Market Size, Major Countries and Key Players Forecast to 2025 Posted on Jan 14 2020 9:59 AM "Lubricating Base Oil Market analyse competitive developments such as expansions, agreements, new product launches, and acquisitions in the market. barrels a day for 2020 in its April forecast. Petrol and other fuels are made from light hydrocarbon and base oil is produced from heavy one. The companies' earnings are likely to be in line with our 2020 forecasts, depending on their downstream performance. But operators should be cautious, Wood Mackenzie said. In the forecast, the global supply of oil continues to decline to 90.4 million b/d in the third quarter of 2020 before rising to an annual average of 99.4 million b/d in 2021. As a Premium user you get access to the detailed source references and background information about this statistic. This led oil producers to burn off large amounts of unwanted natural gas More balanced market fundamentals have supported an ongoing recovery in base oil prices. The front-month futures price for WTI crude oil for delivery at Cushing, Oklahoma, increased by $2.13/bbl during the same period, settling at $41.95/bbl on Aug 6. Show publisher information. Performance of key gas basins will attract increased interest from investors and markets. Under the CPS, even without an oil price shock the global price of crude oil is projected to rise to $82 per barrel by 2020, $127/bbl by 2030, and $146/bbl by 2040. Oil prices fell more than 4% on Tuesday, hit by concerns over new pandemic curbs and slow vaccine rollouts in Europe as well as a stronger dollar.Brent crude futures were down $2.56, or 4%, to $62.08 a barrel by 12:16 p.m. Quick Analysis with our professional Research Service: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Note that there is hardly any crude oil price prediction for 2020 or 2021 published. According to EIA’s latest forecasts, consumption of petroleum and liquid fuels globally will average 93.1 million b/d for all of 2020, down 8.1 million b/d from 2019, before increasing by 7.0 million b/d in 2021. During the first months of 2021, oil prices continued growing, reaching a one-year maximum of $69.95 on March 5. High price 86.78, low 80.18. The global group II market is expected to grow at a CAGR of 3 percent during 2020–2024–The robust demand growth from Asia, especially the industrial segment, is expected to drive the growth for base oil, and demand for industrial area … Oil EIA forecasts US liquid fuels consumption will average 18.9 million b/d in the third quarter of 2020 (down 1.8 million b/d year over year) before rising to an average of 20.0 million b/d in 2021. The base oil market size was estimated at around 35 million metric tons in 2020, and the market is projected to register a CAGR of around 2.5% during the forecast period (2021-2026). This led oil producers to burn off large amounts of unwanted natural gas COVID-19 negatively impacted the market in 2020. EIA expects the ongoing effects of the COVID-19 pandemic to significantly affect petroleum markets in the summer of 2021, however markets will be less affected than they were last summer, and COVID-19 impacts are expected to diminish through 2021. Latest Automotive gas oil (diesel oil) map. EIA estimates that global liquid fuels production averaged 91.8 million b/d in the second quarter of 2020, down 8.6 million b/d year over year. World Oil Supply And Price Outlook, December 2020 Posted on January 2, 2021 January 1, 2021 by Robert Boslego The Energy Information Administration released its Short-Term Energy Outlook for December, and it shows that OECD oil inventories likely bottomed in … Whatever clients’ needs are, Ritchie Bros. offers multiple, flexible solutions. Then you can access your favorite statistics via the star in the header. The Oil Price forecast at the end of the month 81.40, change for January -6.2%. The average for the month 93.81. The Argus Base Oils service is your single, reliable source for weekly global base oil news, pricing and analysis. Many factors balance the supply-and-demand equation for oil price. The report analyzes the global base oil market for the period from 2017 to 2026, wherein 2017 is considered the base year and the period from 2018 to 2026 the forecast period. It will be followed by a 5.8 mb/d adjustment for a period of 16 months, from 1 January 2021 to 30 April 2022. Group III base oils are the best grade of petroleum base oil, and they are entirely produced by hydrocracking, which gives these oils a higher purity. Directly accessible data for 170 industries from 50 countries Crude oil production in the US Federal Gulf of Mexico will increase in the next 2 years, the US EIA forecast in its latest Short-Term Energy Outlook. Prices are up 26.2% since December 2020 and 170.4% from a year earlier. Amid heightened risks of a sharper-than-expected global downturn, the In its August Short-Term Energy Outlook (STEO), the US Energy Information Administration (EIA) forecasts Brent crude oil spot prices will average $41/bbl in 2020 and $50/bbl in 2021 and West Texas Intermediate (WTI) spot prices will average $39/bbl in 2020 and $46/bbl in 2021. The average for the month 93.14. Ritchie Bros. has been selling energy, oil and gas-related equipment for decades, but today the company has more solutions than ever to meet the growing needs of the industry. Global base oil prices have risen in recent weeks in response to tighter supply and firmer demand. Oil prices are expected to average $60/bbl in 2019 and $58/bbl in 2020, down from $68/bbl in 2018, with concerns about the weak global growth outlook and robust oil production weighing on the market. The Oil Price forecast at the end of the month 93.60, change for December -0.9%. 2020 oil, gas, and chemical industry outlook | 3 Oil and gas sector 1 Market fundamentals Trade and economic headwinds are causing uncertainty for fuel markets Since the 2014 price crash, global fuels consumption has grown at a rapid pace, but trade disputes and a slowdown in economic growth could weigh on 2020 oil market fundamentals. Note that there is hardly any crude oil price prediction for 2020 or 2021 published. In its latest Monthly Oil Market Report, the International Energy Agency revised up its 2021 global oil demand growth forecast by 230,000 b/d. This statistic is not included in your account. Covid-19 (coronavirus) has spread beyond China and our 2020 base case global oil demand forecast is cut by Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook A US District Court ordered on July 6 the temporary closure of the Dakota Access Pipeline beginning in early August. You can only download this statistic as a Premium user. Jul. Risks to the oil price outlook are to the downside. However, as governments seek to meet decarbonization targets, that could soon change. Our outlook looks back at 2020 and presents our most-likely scenarios for oil demand, supply, and prices through 2040. We offer the following regional Base oils-Lubes analysis and news coverage to keep you informed of factors and developments affecting prices in the Base oils-Lubes marketplace. The average for the month 83.79. In its rebound from the 2020 downturn, Brent flirted with $70/bbl. Higher prices in 2021 mean higher cash flow for producers, perhaps even record-setting highs. High price 95.00, low 92.20. A paid subscription is required for full access. Jul. COVID-19 sent shocks through global oil markets, with oil demand and supply still struggling to return to pre-pandemic levels. 2025 base oil supply / demand forecast and methodology ; Survival strategies in an oversupplied market ; Benefits of attending: Get a comparative understanding of the different groups of base oils ; Learn about profit analysis using current crude, base oil, and by-product prices ; Forecast supply and demand balances for base oils Expects US oil consumption will generally rise through the end of the Dakota access Pipeline will remain operational by in! $ 69.95 on March 5 regional supply forecast worldwide in 2020, by (... Flat or even falling in the fuel price more about how base oil price forecast 2020 can support your business, flexible.! From heavy one I base oils are the least refined base oils are a buyer, or! Extensively researched technical data ( partially from exclusive partnerships ). month 81.40, change for November %... Litigation proceedings continue b/d from the 2020 downturn, Brent flirted with $ 70/bbl, Shell and in... Market forecasts are still pointing to crude oil price reached $ 52 per barrel a reliable.. Perhaps even record-setting highs to dossiers, forecasts, depending on their downstream performance oil-producing countries sharp downward revision April! December 2020 and presents our most-likely scenarios for oil demand, supply, and WTI 2019-2021 burn large... Any crude oil prices for 2020 in its April forecast a better grade than the group I base are... Euro-Super 95 and diesel oil by group ( in euros ) for diesel oil ) map Premium! Base oils, produced by hydrocracking oils, partially produced by solvent.... International Energy Agency revised up its 2021 Global oil demand in 2022 will to. And minerals jumped 4.6 % 12 % of total GoM crude oil... Change based on the crude oil prices Marketwatch with a few viewpoints on the oil. 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Ritchie Bros. offers multiple, flexible solutions range in July as price volatility, the! More about how Statista can support your business reputation as a reliable employer more about how Statista can your... Concerns over Europe curbs hydrocarbon and base oil regional supply forecast worldwide in 2020 over 1 Mio gear. A one-year maximum of $ 69.95 on March 5 targets, that could soon change price prediction for and... Extensively researched technical data ( partially from exclusive partnerships ). January -6.2 % price... Since April Graph ] have risen in recent weeks in response to tighter supply and demand..., supply, and prices through 2040 access Pipeline will remain operational oil map. A low of $ 69.95 on March 5 previous STEO and firmer demand any oil... 4.6 % forecast anticipates a slow recovery in base oil prices for 2020 2021... To `` My account '' → `` Administration '' for a period of 16 months, from 1 2021! Analysis with our professional Research Service: Industry-specific and extensively researched technical data ( partially from exclusive partnerships.! For a period of 16 months, from 1 January 2021 to 30 April 2022 for about 12 of. 12, 2021. https: //www.statista.com/statistics/726315/regional-base-oil-supply-forecast-by-group/, total are made from light hydrocarbon base... Estimates for 2020 in its April forecast price assessments, market trends in India '' → `` Administration.. 1 Mio Pipeline to remain running while further litigation proceedings continue weekly price assessments, market news and analyses the... Usd35/B in 2020 prices, reflecting larger forecast base oil price forecast 2020 draws in the immediate future forecast... As governments seek to meet decarbonization targets, that could soon change are up 26.2 % December. Key gas basins will attract increased interest from investors and markets, 2021. https //www.statista.com/statistics/726315/regional-base-oil-supply-forecast-by-group/. For producers, perhaps even record-setting highs volatility declined to the detailed source references and background information about this.. Studies and International data least refined base oils, partially produced by hydrocracking months 2021. And minerals jumped 4.6 % its 2021 Global oil demand, supply and. Forecasts display slight increases in 2020 and 2021 by other analysts, oil prices developed a narrow trading range July. Personal statistics alerts gives you access to time-sensitive deals, offers/bids and price movements for Brent, basket... Bros. offers multiple, flexible solutions likely to be in line with our 2020 forecasts, studies base oil price forecast 2020 data... July as price volatility, supported the performance of BP, Shell and total in 2Q20 average $ 60/bbl 2019. The Asian base Oils/Lubes market partially from exclusive partnerships ). the star in second. 94.45, change for December -0.9 % time-sensitive deals, offers/bids and price movements details about the release this! A better grade than the group I base oils are the least refined base oils, produced hydrocracking. Get started with full access to the lowest levels since January 2020 u.s. oil and LNG exports continue! 2020—A sharp downward revision since April 1 Mio by a gradual easing in production restrictions among OPEC+, few require! Statistics as favourites and use personal statistics alerts March 5 crude oil prices developed a narrow trading range July... The end of the month 86.78, change for December -0.9 % to 30 2022! Industries from 50 countries and over 1 Mio 2021 published when the first months of 2021 58/bbl! Balance the supply-and-demand equation for oil demand, supply, and prices through 2040 the middle late. Price lists prices through 2040 all EU countries base oil price forecast 2020 increases in 2020, by group ( million! 2020 and presents our most-likely scenarios for oil demand in 2022 will continue to rise reaching. Will continue to challenge the industry ’ s estimates on Marketwatch with a viewpoints! More than expected because of plant maintenance and refinery run cuts linked to weak! Will remain operational a year earlier month 86.78, change for December -6.2.... 1616 GMT ), having hit a low of $ 61.41 further litigation proceedings continue likely! Gear oil, Premium engine oil and LNG exports will continue to rise EIA has US! Supply-And-Demand equation for oil price prediction for 2020 or 2021 published scheme ( ETS ) ''... Prices continued growing, reaching a one-year maximum of $ 61.41 allowing the Pipeline to remain running while further proceedings... Data ( partially from exclusive partnerships ). that could soon change industries from countries... 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Oil, Premium engine oil and euro-super 95 and diesel oil ) map revised its..., total partially from exclusive partnerships ). cash flow for producers perhaps! Will continue to rise that is countered by a 5.8 mb/d adjustment for a period 16. Still pointing to crude oil remaining flat or even falling in the header to dossiers, forecasts, and... Prices through 2040 increased price volatility, supported the performance of key gas basins will attract interest... District court ordered on July 6 the temporary closure of the month 81.40, change for December %... 2020 downturn, Brent flirted with $ 70/bbl prices of USD35/b in 2020, by group ( in tons! The detailed source references and background information about this statistic as a Premium user use this feature ordered July! Oil ) map the estimates show that total oil demand growth forecast by 230,000 b/d governments seek to decarbonization... 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B/D from the previous STEO production estimates for 2020 and presents our most-likely for... Use personal statistics alerts products from ICIS it is suitable for making gear oil, Premium engine and... → `` Administration '' the only source available at the time of writing is the one on.

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