Global supply is unlikely to keep up with demand in the short term
High crude prices to persist in Q3 – Rystad
Consultancy sees Brent potentially averaging $120/bl in Q3, but the outlook remains mixed
Brent prices will likely remain high and continue to average around $120/bl in the third quarter of 2022, consultancy Rystad Energy predicts. But the outlook is mixed, and prices could also see downward pressure too. The Biden administration’s efforts to lobby Opec+ for production increases have so far been unsuccessful, says Louise Dickson, senior analyst for oil market research at Rystad. Saudi Arabia, the UAE and Iraq—which have a combined total of c.3mn bl/d of spare production capacity—are the only members of the cartel that could potentially deliver quick production increases, says Dickson. Saudi Arabia has the largest share of this total—with 1.35mn bl/d—and would offer the “most imme
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
