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Oil price could recover to US$75 in 2 years

Oil price could recover to a base-case scenario of US$75 (RM308.25) per barrel in 2022 as global oil production and demand are expected to gradually improve, observed analysts.

AmInvestment Bank Bhd analyst Alex Goh said although the Covid-19 pandemic will continue to exert pressure on global oil demand until 2025 with an estimated 900,000 barrels per day (bpd) below pre-Covid 19 levels, a gradual upcycle recovery could push prices up to US$90 per barrel.

Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.