Fitch Sees Brent At $45 Next Year

Fitch Ratings said it expected Brent crude to average $45 a barrel next year, following OPEC+’s decision to start raising production by 500,000 bpd monthly from January 2021. “We expect prices to be, on average, at $45 next year for Brent,” Fitch senior director Dmitry Marinchenko told CNBC today. “This assumes that the demand will remain weak until at least the second half of the year, because the progress with mass vaccination probably will not be very quick,” he added. Vaccine news sent oil prices higher at the…