Oil Price Forecast - June 15

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

Oil Price Forecast - June 15

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RBC Capital raised its 2022 average forecasts for WTI and Brent, to US$72.50 and US$75 per barrel, respectively, — a 12-13 per cent appreciation from current strip prices.

And there may be more upside for oil, especially this summer.

Research firm Rystad Energy notes that heavy maintenance seasons in Canada and the North Sea will help prices stay lofty.

“In June 2021, Rystad Energy estimates more than 330,000 bpd of oil and condensate supply is offline at Canada oilsands projects, and 370,000 bpd of supply offline in the North Sea, led by maintenance on major Forties blend fields such as Buzzard and partial maintenance at Johan Sverdrup in Norway,” according to Louise Dickson, Rystad’s oil market analyst.

Read more: https://financialpost.com/executive/pos ... 1623672999
Dan Steffens
Energy Prospectus Group
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