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Crude oil can hit $50/bbl in 2021; gas demand to pick up in India: Analysts

Currently, Brent prices are hovering around the $42/barrel mark

Topics
Crude oil Outlook | Crude Oil | LPG

Puneet Wadhwa  |  New Delhi 

oil, prices, crude
S&P Global Platts has lowered their 2021 global oil demand estimate to 101.2 million b/d

Despite the pick-up in economic activity around the globe after lockdowns triggered by the Covid-19 pandemic, Brent prices are likely to remain range-bound between $35 – 40 per barrel till the third quarter of the current calendar year 2021 (CY21), but move up to $45 – 50/barrel in the second half of CY21, suggests a note by . West Texas Intermediate (WTI) crude prices, on the other hand, are likely to hover between $40 – 45/barrel by then. Currently, Brent prices are hovering around the $42/barrel mark.

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First Published: Fri, July 03 2020. 11:06 IST
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