Fitch updates oil prices forecast

Fitch Ratings has raised its oil prices forecast for the near future.

According to the agency’s December report, the average price of Brent crude oil in 2021 was $71 against $63 in September and will be $70 against $55 in 2022, and $60 against $53 in 2023.

The average oil price, which was $43.3 last year, was $55.8 in 2016-2020.