PTT Group Oil Situation Analysts (PRISM Expert) together with the Petroleum Refinery Industry Club of Federation of Thai Industries forecast Dubai crude oil price 2021 at 45-55 USD per barrel higher than 2020 due to positive promise from the advancement of the COVID-19 vaccine development, the international economic stimulus measures and renewable energy trend. However, the analyst team sees that the recovery of the oil market is still at risk doubting the fact that COVID-19 outbreak should continue and becomes difficult to control, Dubai crude prices would maintain at 35- 45 US dollar per barrel.
Mr. Auttapol Rerkpiboon, President & Chief Executive Officer, PTT Public Company Limited, presides over the online seminar for the 2020 The Annual Petroleum Outlook Forum under the theme "The Great Reset: When Disease Revolutionize the World … Delve into the Changing Point of the Energy World". PTT Group Oil Situation Analyst or PRISM Expert together with Petroleum Refinery Industry, The Federation of Thai Industries present the direction and trend of oil prices in the world market as well as the challenges of future energy, aiming at creating sustainable energy for the country. This sharing of insight will benefit both the public sector, the private sector, financiers and banking, educational institutions, the mass media and the public. An interesting energy situation analysis from the PTT Group's PRISM Expert team and an outside expert helps understand and plan business effectively after the world and businesses, including energy sector face tremendous challenges due to the spread of COVID-19 virus that has halted economic growth. New Business model and lifestyle has been reform to promptly deal with situations that arise quickly is an absolute necessary. As well as the dissemination of energy information to the society with accurate knowledge and understanding, helps strengthen the Thai society with comprehensive knowledge to jointly create Sustainable Growth for All for the Thai society and economy as according to PTT Group's policy."
Mr. Bandhit Thamprajamchit Chairman of Petroleum Refining Industry Club reveals the direction of the world's oil market that COVID-19 is "The Great Reset, or a major turning point" that force oil demand in 2020 to drop to the lowest level in history. Which bring World's top oil exporters to gather to find a solution and important factors that will help stimulate the global economy. The discovery of the COVID-19 vaccine is crucial point for each country to set measure and stimulate the economy. Moreover, sustainable environmental protection policy continues to play an important role to help balance future economic growth.
The Annual Petroleum Outlook Forum has been running continuously since 2012, with a team of oil situation analysts (PRISM Expert) from PTT group companies presenting energy situation analysis on a regular basis. For further information, please visit our website: https://prism.pttgrp.com/