Reviewing the risks to our 2021 oil price forecast

We forecast that a substantial pick-up in oil demand in the second half of next year amidst a backdrop of constrained supply will push Brent oil prices to around $60 per barrel by end-2021. That said, there are clear downside risks, the most notable being the possibility that demand fails to revive strongly next year, or that supply rebounds up much faster than we expect.

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