Market news
17.06.2021, 11:57

Higher oil production to weigh on prices in 2022 - Capital Economics

FXStreet notes that higher production from OPEC+ member states and in the Americas means that global oil production is set to rise sharply over the next eighteen months. This is the reason why strategists at Capital Economics expect oil prices to fall from Q4 this year and throughout 2022.

“We expect global oil production to expand to around 96m bpd in 2021, from just under 94m bpd in 2020, and to fully rebound to pre-virus levels by 2022. This should be enough to swing the global oil market balance into a surplus.”

“We forecast that the price of Brent (WTI) will peak in Q3 later this year at $75 ($72) per barrel before falling gradually to $60 ($57) by end-2022.”

© 2000-2022. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location