(Source: Shutterstock.com)
[Editor’s note: This report is an excerpt from the Stratas Advisors weekly Short-Term Outlook service analysis, which covers a period of eight quarters and provides monthly forecasts for crude oil, natural gas, NGL, refined products, base petrochemicals and biofuels.]
The price of crude oil moved upward again last week with Brent crude closing the week at $52.26 after closing the previous week at $49.97. Since falling to $19.33 on April 21, the price of Brent crude has recovered significantly, but still remains well below $66.00, which was the price of Brent crude on January 1, 2020. The price of WTI also increased during the week and closed at $49.10 after closing the prior week at $46.57.
About the Author:
John E. Paisie is president at Stratas Advisors and is responsible for managing the research and consulting business worldwide. Prior to joining Stratas Advisors, Paisie was a partner with PFC Energy, a strategic consultancy based in Washington, D.C., where he led a global practice focused on helping clients (including IOCs, NOC, independent oil companies and governments) to understand the future market environment and competitive landscape, set an appropriate strategic direction and implement strategic initiatives. He worked more than eight years with IBM Consulting (formerly PriceWaterhouseCoopers, PwC Consulting) as an associate partner in the strategic change practice focused on the energy sector while residing in Houston, Singapore, Beijing and London.
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