-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Russian Energy Minister Alexander Novok said on Friday that global oil demand could fall by 9-10 million b/d (bpd) this year due to the impact of the COVID-19 pandemic, adding that there is room for prices to recover further
.
That was in line with a forecast last month by OPEC, which plunged 9.
06 million barrels
of global oil demand this year.
Oil demand has been hit by the pandemic, which forced lockdowns worldwide and led to a sharp drop
in fuel consumption.
Novak said in a virtual conference that oil prices could rise to around $65 a barrel next year, but expected to fluctuate
.
Brent crude is currently trading around $44 a barrel after falling below $16 in April, a 21-year low
.
As for whether to agree with Goldman's forecast that oil prices could reach $65 a barrel, Novelk said it is possible, but will be more cautious
in the future.
"My forecast for 2021 is more modest than for Goldman Sachs
.
In my opinion, turning again to the average price of oil prices, it is expected to probably be at the level
of $50 to $55 per barrel.
But volatility may exist
.
”
Goldman Sachs expects Brent crude prices to recover to $65 per barrel by the third quarter of 2021, averaging $59.
40 for the full year
.
Russian Energy Minister Alexander Novok said on Friday that global oil demand could fall by 9-10 million b/d (bpd) this year due to the impact of the COVID-19 pandemic, adding that there is room for prices to recover further
.
That was in line with a forecast last month by OPEC, which plunged 9.
06 million barrels
of global oil demand this year.
Oil demand has been hit by the pandemic, which forced lockdowns worldwide and led to a sharp drop
in fuel consumption.
Novak said in a virtual conference that oil prices could rise to around $65 a barrel next year, but expected to fluctuate
.
Brent crude is currently trading around $44 a barrel after falling below $16 in April, a 21-year low
.
As for whether to agree with Goldman's forecast that oil prices could reach $65 a barrel, Novelk said it is possible, but will be more cautious
in the future.
"My forecast for 2021 is more modest than for Goldman Sachs
.
In my opinion, turning again to the average price of oil prices, it is expected to probably be at the level
of $50 to $55 per barrel.
But volatility may exist
.
”
Goldman Sachs expects Brent crude prices to recover to $65 per barrel by the third quarter of 2021, averaging $59.
40 for the full year
.
