Matthew Chandler 15 / December / 21

The demand for oil will return to the levels of 2019 by the end of 2022, Deutsche Bank predicts.

Deutsche Bank predicts oil prices to fall below $60: when and why

Even if OPEC+ postpones the planned increase in crude production until April, in 2022 the price of oil on the New York stock exchange may fall below $ 60. This forecast was recently announced by analysts at Deutsche Bank with reference to ProFinance materials.

According to Deutsche Bank experts, in 2022 oil quotes may fall below $60 per barrel against the background of a "significant increase" in the supply surplus in the first quarter. This may happen, the bank's analysts say, even if OPEC+ postpones the planned increase in production of raw materials until April.

As for demand, Deutsche Bank predicts that the indicator will return to the levels of 2019 by the end of 2022.

Analysts at Jefferies investment bank, on the contrary, expect an increase in oil prices against the background of the world's strong dependence on fossil fuels. In their opinion, the cost of raw materials in the future may rise to $ 150 per barrel. And this can happen, the bank predicts, when the world "fully opens up and removes all quarantine restrictions."

On the morning of December 2, according to trading data, $69.79 (+1.34%) was given for a barrel of Brent, while the value of Texas WTI as of 10:15 was $66.39 (+1.25%).

According to statistics published by the US Department of Energy the day before, last week the stocks of raw materials in the States decreased by 900,000 barrels, the volume of gasoline in the country's storage facilities increased by 4 million barrels, and distillates - by 2.2 million barrels.

Recall that, according to API data, the volume of raw materials in State storages decreased by 747,000 barrels, while stocks in Cushing increased by 1 million barrels.

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Matthew Chandler
Matthew Chandler
Matthew Chandler 33 years old Born in Edinburgh. Married with one child. Graduate University of Cambridge, Psychology course 2011. Works at Acclaim Studios London.

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