Total has revised its oil price assumptions for the next years given the drop in prices in 2020
Its new profile is for Brent price at
- $35 per barrel in 2020
- $40 in 2021
- $50 in 2022
- $60 in 2023
Said that the drop in investments in the oil sector since 2015 would result in insufficient global production capacities by 2025 and a rebound in prices.
- "Beyond 2030, given technological developments, particularly in the transportation sector, Total anticipates oil demand will have reached its peak and Brent prices should tend toward the long-term price of $50 per barrel"
Info via Reuters
