Russia’s energy minister calls oil at $50 to $55 a barrel in 2021

“The future recovery is going to be much slower,” Novak told CNBC as demand concerns weighed on crude prices. Goldman on the other hand expects oil to reach $65 next year. Goldman also said they expected West Texas Intermediate to rally to $55.88 a barrel by the third quarter of next year, up from $51.38 a barrel in earlier forecasts, Business Insider reports.

Related posts

More Countries are turning to China for Help


China’s $7 trillion spending spree aims to save economy 


U.S. crude is plunging from nearly four-year highs six weeks ago to its lowest level since early December.