Expectations For Brent Crude To Reach $ 53 A Barrel


Last updated Nov 23, 2020

The Independent / – Barclays Bank expects the average price of Brent crude to reach $ 53 a barrel, and US crude at $ 50 a barrel.

The bank confirmed in a note to its customers today, Monday, that the potential launch of highly efficient vaccines in the short term may represent a turning point for demand, as it may lead to a more sustainable economic recovery … according to Reuters.

The bank expects OPEC and its allies to delay raising production targets by three months, when the group meets later in November.

The oil market suffers from a lack of demand, with the increase in global closures due to the spread of the Covid-19 virus.

During today’s trading, futures contracts for “Brent” crude for January delivery rose by 0.6% to $ 45.21 a barrel, and US “Nymex” crude for January delivery rose 0.4%, recording $ 42.59 a barrel.

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