Fitch raised Brent oil price forecasts for 2020 and 2021


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 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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