Oil prices may reach $50 by the second half of 2021 – US Department of Energy

US Energy Secretary Dan Bruyette predicted that the oil price would rise to about $50 a barrel by the second half of 2021, Angi reports.

“Although there is always uncertainty about oil prices, we expect the average price <...> to rise to possibly $50 per barrel in the second half of 2021, as stocks continue to decline over this period,” he said.

He also said that natural gas production is also expected to decline in the first half of next year, with expectations that it will start to increase again in the second half of 2021.

“And these tendencies, in our opinion, lay the foundation for a very lasting economic recovery,” the head of the department is convinced.

Tags: gas, oil, legislation, USA, energy market, gas production, авиатопливо, добыча нефти, RF, foreign affairs, OPEC+, OPEC, price, volumes, oil products, gasoline, energy sector, Brent, WTI, COVID-19, oil companies, oil reserves, crisis, The Ministry of Energy, economy, market, oil and gas industry, oil production, gas production

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