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The "2021 Domestic and Foreign Oil and Gas Industry Development Report" (referred to as the "Industry Report") compiled by the national high-end think tank, China National Petroleum Corporation Economic and Technological Research Institute, was officially released in Beijing recently
The "Industry Report" pointed out that the main keynote of the development of the oil and gas industry at home and abroad in 2021 will be recovery and transformation, and this keynote will continue in 2022
The "Industry Report" shows that in 2021, the oil market will recover significantly, and the average price of Brent crude oil will rise sharply to US$70.
The "Industry Report" predicts that in 2022, due to the intensification of geopolitical conflicts and the rise of market panic, the international oil price will fluctuate at a high level, and the possibility of short-term oil prices exceeding the historical high level cannot be ruled out; affected by the relationship between Russia and Ukraine, it is expected that Russian gas will enter Europe.
