Brent Crude prices are set to average $80 a barrel in 2022, Barclays said on Tuesday, raising its forecast by $3 as it expects slower supply growth next year and faster inventory drawdown by the end of this year. In a note on Tuesday carried by Reuters, Barclays also revised up its projection for average WTI Crude prices in 2022, also by $3 to $77 per barrel, as it doesn’t expect OPEC+ to rush to restore all production as planned if the market becomes oversupplied early next year.
Oversupply at the start of 2022 seems to be the general…Barclays Lifts Brent Oil Price Forecast To $80 In 2022
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