Save for later Print Download Share LinkedIn Twitter Oil producers, banks and research houses have all raised oil price assumptions in recent months, reflecting a more bullish outlook for the commodity whose prospects looked very dim only two years ago. Nudging up its Brent forecasts to $105 per barrel and $100/bbl for 2022 and 2023, respectively, Fitch Solutions said in a note last month that its revision reflected “stronger-than-expected price performance ... and a tighter supply outlook emerging.” It noted that Russian oil exports would come under increasing pressure as a partial EU ban on Russian crude from Dec. 5 draws nearer, potentially tightening the market even more. The higher forecasts point to more bumper profits ahead for oil and gas producers but also have implications for their investment plans, borrowing and balance sheets.
