Moody's revises upwards medium-term oil price outlook to US$50-US$70 per barrel

KUALA LUMPUR: Moody’s Investors Service has revised upwards its medium-term oil price range outlook to US$50-US$70 per barrel to reflect its expectation of a continued increase in the cost of production in step with recovery in demand.

"We are now returning to the medium-term price range we had before the coronavirus pandemic,” senior vice president Elena Nadtotchi said in a statement today.