• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 49 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 18 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 2 days "False Flag Planted In Nord Stream Pipeline, GFANZ, Gore, Carney, Net Zero, U.S. Banks, Fake Meat, and more" - NEWS in 28 minutes
  • 22 hours ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 7 hours Wind droughts
  • 6 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 4 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 2 days Xi Is Set To Be Re-Elected As China’s Leader
  • 10 days Oil Prices Fall After Fed Raises Rates
  • 1 day 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 17 hours Australian power prices go insane
  • 12 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 20 hours Europeans and Americans are beginning to see the results of depending on renewables.

Analysts Expect Brent Oil To Average $75 In 2022

Cautious production policy from the OPEC+ group next year is expected to keep oil prices above $70, with Brent Crude expected to average $75.33 a barrel in 2022, the monthly Reuters poll showed on Tuesday.

The average price that 39 economists and analysts predicted in the November poll, which started before Friday’s price plunge due to Omicron fears, is now the highest for 2022 the experts have forecast for Brent and for WTI this year.

The U.S. benchmark is expected to average $73.31 per barrel next year, up from $71.21 a barrel expected in the October poll.

The average WTI Crude price for this year is forecast at $68.52, according to the November poll.

The analysts surveyed by Reuters expect OPEC+ to continue keeping a cautious approach to releasing more supply to the market. The group, however, is not expected to allow oil prices to stay above $80 for a sustained period of time because it is also worried about U.S. shale gathering momentum if prices remain that high, John Paisie, president of Stratas Advisors, told Reuters.

Oil prices have dipped since Friday, and early on Tuesday, they were trading very close to the average forecast in the Reuters poll for 2021, which is $71.25 a barrel Brent and $68.52 per barrel WTI.

OPEC+ is meeting on Thursday to decide how to proceed with production for January in view of an expected market surplus next year and the new Omicron variant, which has had all markets, including the oil market, fretting about the consequences on economies and oil demand in case additional restrictions and lockdowns are imposed.

Many countries have already banned flights from South Africa and other southern African countries, while several—including Japan and Israel—closed off borders for foreign visitors. Others have tightened requirements for testing and self-isolation upon arrival regardless of vaccination status, which could also reduce international travel in the coming weeks.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News