Oil prices have rallied along with the rest of the energy space and in the bigger picture the broad commodity space. Strategists at Danske Bank keep unchanged their forecast and still expect Brent to average $75 next year.

Brent seen rising towards $80 in 2023

“Demand may be nearing a peak since central banks are likely to contemplate to tighten monetary policy next year.”

“Medium-term past years’ of lower investment will keep prices elevated.”

“We expect Brent to average $75bbl in 2022 and $80/bbl in 2023.”