PTT Group Together with Petroleum Refining Industry Club of F.T.I. Forecast 2020 Oil Price

Energy Press Releases Wednesday November 27, 2019 16:50
Bangkok--27 Nov--PTT Public Company Limited

Petrochemicals and Refining Integrated Synergy Management (PRISM) and Petroleum Refining Industry Club of Federation of Thai Industries forecasted that Dubai crude oil price in 2020 would be around 55 – 65 USD/bbl.Factors that should be closely monitored include trade war, economic stimulus measure, increase in oil production capacity of Non OPEC, and policy on oil production of OPEC.

Mr. Chansin Treenuchagron, President and Chief Executive Officer of PTT Public Company Limited,presided over the opening ceremony of 2019 The Annual Petroleum Outlook Forum: "Sustainable Energy…Shaping A Better Future. PRISM Expert together with Petroleum Refining Industry Club of Federation of Thai Industries held the event to present the future direction of global oil price, upcoming challenges in energy sector, and solutions for sustainable energy. Experts in energy sector also joined a panel discussion to share their information and experiences, which will be useful for both public and private sectors.

"PRISM Expert's insight information and professionals' viewpoints will provide us the better understanding, so we can handle the abruptly future change, and embark on business opportunities. These data will allow us to be the leaders. The most important thing is to provide fact-based information and valuable knowledge to the public, promoting collaboration in accordance with PTT Group's Sustainable Growth for All policy."

Mr. Bandhit Thamprajamchit, President of Petroleum Refining Industry Club revealed 2020 global oil price trend that "the global economy is currently at 3.4 percent, causing crude oil demand to grow around 1.0 – 1.3 million barrel per day. Although, the U.S.-China trade war and Brexit have an impact on the global economic growth as well as oil demand, the supply of crude oil in the world market tends to surge due to an increase in production capacity of Non OPEC e.g. the United States. Meanwhile, OPEC still maintains its oil production level. PRISM Expert, therefore, forecasted that Dubai crude oil price next year will be around the range of 55 – 65 USD/bbl. The long-term factors that will have an effect on the global oil situation are green energy policies and innovation & technology development for sustainable energy."

The Annual Petroleum Outlook Forum has been held since 2012, with an oil analysis from PRISM Expert team.Regular analysis on energy situation from PRISM Expert can be reached via

Latest Press Release


As a responsible member of the Hua Hin community and a truly iconic resort, Centara Grand Beach Resort & Villas Hua Hin is devoting significant resources to its sustainability program, embracing inspiring Earth-friendly initiatives throughout 2020...

Trina Solar leads the era of 500W+ output with its shipment of world's first Vertex modules

Trina Solar Co., Ltd ("Trina Solar" or the "Company"), a global leading provider of integrated PV modules and smart energy solutions, has just shipped the first lot of its Vertex series modules. The Vertex series modules, with conversion efficiency of up...

Toshiba and TSE signed the Construction Agreement for Mega Solar Project “Onikoube Solar Power Plant” in Miyagi Prefecture

Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) today announces that it received an EPC*1 services order for construction of Onikoube Solar Power Plant, in the city of Osaki in Miyagi Prefecture, North East Japan. The plant is being...

The Groundbreaking Ceremony of Tongwei Solar 30GW High-performance Solar Cell and Supporting Project Was Held

On March 25, the groundbreaking ceremony of Tongwei Solar Photovoltaic Industrial Base Project was held in Huaizhou New Town, Jintang County, Chengdu, China. With total investment of about CNY 20 billion, Tongwei Solar Photovoltaic Industrial Base...

China Huadian Supports Indonesia with Anti-Pandemic Supplies in Need

On March 24, a batch of medical protective materials worth around 1.25 million yuan has departed from Shanghai Pudong International Airport for Soekarno-Hatta International Airport in Jakarta, Indonesia. This is the first round of overseas anti-pandemic...

Related Topics