2020-21: Oil Prices To Remain Subdued, As COVID-19 Keeps Hampering Global Growth

By Alessandro Magnoli Bocchi, Fawaz Sulaiman Al Mughrabi and Karmen Meneses

22 October 2020

In this paper we discuss:

1. The underlying macroeconomic outlook for the 2020-21 period;
2. How geopolitical events may impact oil supply and prices;
3. How we expect oil supply and demand to evolve in 2020-21;
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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Download PDF: Oil outlook – October 2020