PGNiG sees oil prices to grow by 27% and gas to drop by 25% by 2025

Crude oil prices should increase from the current $55 to some $70 per barrel in 2022, while gas prices will fall from PLN 80 to PLN 60 per MWh, WSE-listed gas giant PGNiG said in its updated strategy. “Increased supply of LNG from the US and Australia will be responsible for the drop in gas prices,” PGNiG CEO Piotr Woźniak said. By 2026, the oil prices will increase further to $90 per barrel, while gas prices will bounce back and reach PLN 98 per MWh.