UBS investment bank expects the oil market to witness a supply deficit of about 1.5 million barrels per day during 2021.
According to Reuters, UBS said it expects Brent crude to reach $ 63 per barrel in the second half of 2021.
He added that given stronger demand for oil and OPEC + vigilance on increasing supplies, the oil market is about to post a supply deficit in 2021.
demand for gasoline is expected to rise by more than two million barrels per day on an annual basis, for diesel by about 1.5 million barrels per day on an annual basis, and for aviation fuel by about one million barrels per day on a basis Annual in 2021.
And yesterday, two investment banks expected that the price of Brent crude during the current year would exceed $ 60 a barrel, supported by the efforts of Saudi Arabia and OPEC Plus to preserve the oil market.
Citibank predicted in a recent report that the average price of Brent crude oil would reach $ 59 a barrel in 2021, compared with the previous forecast of $ 54 a barrel. Goldman Sachs said yesterday, crude prices. Brent could rise to $ 65 a barrel by summer 2021, driven by production cuts in Saudi Arabia and the transfer of power to Democrats in the United States. The previous forecast for the American bank was that oil would reach $ 65 by the end of the year.
