Last year we talked about the projected oil price in 2018. What is the expected price movement this year for the black gold?
US crude prices ended 2018 down by 25% while the international benchmark Brent crude fell by 19.5% last year.
Presently WTI crude oil is trading around $64 per barrel and Brent crude is priced at around $71 per barrel.
Price projections for WTI crude suggest prices could hit $70/barrel by the end of 2019 and $97/barrel by the end of 2020.
Price projections for Brent crude suggest that they could end 2019 at $79/barrel and could hit $122/barrel by the end of 2020.
For a longer term and more detailed view on oil price projections until the end of 2021, please click here.