Moody’s raised its forecast for global oil and gas sector

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Moody’s international rating agency expects for recovery of global oil and gas sector by June of 2021and based on this, has raised its forecast for the sector from negative to stable, says the agency’s materials, APA-Economics reports.

In the analysts’ opinion, it is expected that the sector will be recovered by June of 2021, but the average prices and demand will be lower than the pre-crisis level. Thus, after exit from lowest levels of II quarter, the average oil prices will remain at the level of $40-45 that is even lower than the pre-pandemic indicators.