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Dan Brouillette: The Us Department Of Energy Forecasts An Increase In The Price Of Oil To $50 By The Second Half Of 2021

Dan Brouillette: The Us Department Of Energy Forecasts An Increase In The Price Of Oil To $50 By The Second Half Of 2021

The US Department of Energy expects the price of oil to rise to about $50 per barrel by the second half of 2021, according to Dan Brouillette, the 15th Secretary of the US Department of Energy, during a virtual meeting of the departmental Advisory Council.

"Although there is always uncertainty about oil prices, we expect that the average price <...> will rise, perhaps, to $50 per barrel in the second half of 2021 on the background that stocks will continue to decline over this period," he said.

"Although natural gas production is also expected to decline in the first half of next year, we expect it to start increasing again in the second half of 2021," Brouillette said.

"And these trends, in our opinion, lay the foundation for a very strong economic recovery," the head of the Department is convinced.

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