The French oil giant, Total, offers its revision on the Brent oil-price outlook for the next years, given the slump in early 2020.
Key quotes
“New profile is for Brent price at $35 per barrel in 2020, $40 in 2021, $50 in 2022 and $60 in 2023.
The drop in investments in the oil sector since 2015 would result in insufficient global production capacities by 2025 and a rebound in prices.
Beyond 2030, given technological developments, particularly in the transportation sector, Total anticipates oil demand will have reached its peak and Brent prices should tend toward the long-term price of $50 per barrel.”
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