Oil prices expected at around $65-$70 through 2023

Oil prices expected at around $65-$70 through 2023:

Oil prices are expected to oscillate close to current levels well into the next decade, averaging around $65-$70 per barrel through 2023, according to an annual survey of energy professionals conducted by Reuters.

Despite the recent slump in oil prices, forecasts have edged down by less than $5 per barrel compared with the last annual survey conducted at the start of 2018, and have changed little over the last three years.

Long-term expectations for the average price of Brent crude remain anchored around $70 per barrel, close to the $72 average realized in 2018.