Moody’s Sees Brent At $45 In 2021

Brent Crude oil prices are likely to stay close to current levels next year, range-bound at around $45 a barrel due to uneven demand recovery, Moody’s said in a report, quoted by ETEnergyWorld. Next year, oil prices will be in the $40 to $45 per barrel range—that is, at the lower end of the medium-term price forecast by Moody’s of $45 to $65. According to Moody’s report on its 2021 expectations, the outlook for next year is stable with modest gain for prices but still limited capital investment. “Modest improvement…