US Department of energy predicts that complete removal of restrictive measures due to pandemic coronavirus will occur worldwide during the fourth quarter of 2020. This was reported to RIA Novosti.
the report of the energy Department of the USA says that the fall in world demand for oil by the end of 2020 will amount to 8.1 million barrels per day, and in 2021 it will increase by 7 million barrels per day. The growth of oil reserves will continue until the end of the second quarter of 2020 to 11.5 million barrels per day, and only since the third quarter will start their decline.
According to the authors of the report, the production of “black gold” in the United States in 2020 will decrease to 11.69 million barrels per day, and in 2021 to 10.9 million barrels per day. Total supply falls in 2020 from countries outside OPEC, primarily the USA, Russia and Canada, the report estimated at 2.4 million barrels per day.
this document improved Outlook for the price of Brent crude oil on average in 2020 from 33 dollars to 34.1 percent, and in 2021 – up from 45.6 47,81 USD per barrel.