Issues and Foresight
Economic outlook
04 March 2020
Oil prices, having soared to over $70/b at the start of 2019, fell back after May to levels of between 60 and $65/b. They briefly climbed back to the $70/b mark at the end of the year on the back of geopolitical tensions
As was the case in 2018, the demand for natural gas grew significantly in 2019, on the back of an abundant and competitive supply promoting the use of natural gas for electricity production.