Sunday , June 13 2021

Fitche Brent oil prices downturn 2018-2019 for US soft punishment against Iran terminal

Fitche has lowered its crude oil prices by 2018-2019, due to the deterioration of Iran's sanctions

The international classification agency Fitch lowered Brund's crude oil prices to 2018 and 2019, in light of what was happening in the market, as a result of the reductions in the imposition of anti-Iranian penalties.

This is expressed in the Fitch agent's message, writes "Prime".

"We have lowered the forecast for the average annual oil price of Brent, now we expect prices at prices ranging from $ 73 to $ 75 in 2018 and 2019. According to our estimates, prices have been in the range of $ 74.5 to $ 81 in recent years, respectively Next, "said the agency.

"Basic solutions have deteriorated due to our latest oil forecasts, mainly because the United States has been subject to sanctions on Iran: the demand and supply perspective has not changed dramatically, but the global balance has shifted" in the document.

In addition, Fitch's average Brent oil price forecast is $ 82 for 2020, $ 84 for barrel, 84 in 2021, and $ 20 in $ 20 in 2022. The agency also forecasts the WTI oil price in 2018 in $ 66, $ 201,921 – $ 78 and $ 20,000 in 2020 – $ 80 per barrel in 2019.

The agency has stated that the price of current prices is "increasingly excessive" and the market's feeling is low. "Markets seem to have slowed economic activity and oil demand, while economic growth is slowing down, but demand in developing countries is generally strong, and in spite of its supply, OPEC + production in December and Venezuelan and Iranian production According to the experts, the Brent oil price would be recovering at a price in the next few months, according to a drop.

"In the medium term, prices will depend on OPEC's December meeting in December, our basic scenarios believe that the group is agreeing on a" reduced reduction scenario "that means that they will move away from the terms of the previous agreement and higher production levels than today's To set it up, Fitch concludes.

The Terminals Energy Information Administration announced that the US Energy Department (EIA) announced the Brent average price in 2018 and $ 72.84 to $ 71.74.

Source link