Fitch raised Brent oil price forecasts for 2020 and 2021

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Experts at Fitch Ratings, the international rating agency, expect that OPEC member countries and their partners will be able to keep Brent’s oil prices above $60 per barrel. This was reported on finversia.ru. Nevertheless, constantly increasing production in the United States will prevent prices to rise above $70 per barrel. Therefore, Fitch predicts that in 2020 the price of Brent will average $62.5 per barrel, and in 2021 it will drop to $60 per barrel. The forecast for 2019 has been kept at $65 per barrel. Evaluating the long-term perspective in the oil market, the agency's experts believe that the price of Brent will drop to $57 per barrel, and WTI - to $55 per barrel.

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