Oil May 2021

MARKET VIEWS

2021-22: Oil Prices To Recover, As Global Demand Improves

By Alessandro Magnoli Bocchi and Fawaz Sulaiman Al Mughrabi

5 May 2021

In this paper we discuss:

1. The underlying macroeconomic outlook for the 2021-22 period;
2. How geopolitical events may impact oil supply and prices;
3. How we expect oil supply and demand to evolve in 2021-22;
4. Our scenario analysis for oil prices, with baseline, upside and downside risks; and
5. The economic, policy and market implications of all the above.

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