Oil demand to rebound in 2020
Macroeconomic factors promise to boost oil requirements and bolster prices, which may see the market spring a surprise
Oil prices in 2020 will recover smartly from late 2019 levels, as demand regains its mojo and supply growth continues to moderate. A weaker US dollar—brought about by globally accommodative monetary policies and a reduction in economic policy uncertainty—also will support prices. As such, BCA Research forecasts 2020 Brent prices averaging $70/bl, well above a consensus forecast of under $62.40/bl produced by over 50 economists and economist survey in an October Thomson Retuters poll. The recovery in the benchmark oil price is premised on a relatively upbeat assessment of supply and demand dynamics next year—production discipline by Opec+ and capital market restraints on US shale—oil output
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
