World Bank Sees Oil Prices Averaging $44 In 2021 ...Middle East

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World Bank Sees Oil Prices Averaging $44 In 2021
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Oil prices, defined as an average of Brent, West Texas Intermediate, and Dubai prices, are expected to rise to an average of $44 per barrel next year and $50 a barrel in 2022, up from expected $41 in 2020, the World Bank said on Wednesday in its latest report on Russia. According to the World Bank, the COVID-19 pandemic will continue to impact global oil demand, with consumption still below pre-pandemic levels next year. Oil consumption is expected to remain around 5 percent lower than in 2019 by the end of 2021, the World Bank said.   The…

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