12/8/2020, 6:47 PM (Source: TeleTrader)
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Moody's forecast puts oil prices at $40-$45 in 2021

Moody's sees the price of Brent in 2021 in the range between $40 and $45 per barrel, the ratings agency said on Tuesday.

Additionally, Moody's noted the global oil market will recover in 2021 but that oil inventories will remain high and only decline at a slow pace. Moody's also pointed out that prices will be between $45 and $65 per barrel in the medium term.

Brent for February delivery was last at $45 per barrel on November 23. It is now up 22.83% for the month, but down 26.34% since the beginning of the year.

Baha Breaking News (BBN) / VP