.text290 span{ Looking forward, we estimate it to trade at 39.68 in 12 months time. font-style: normal !important; } Crude Oil Weekly Price Forecast – Crude Oil Quiet Heading Into 2021 . } margin: 0 auto; font-size: 16px!important; However, it may prove worthwhile to be a buyer of the commodity within the energy sector on pullbacks in value using what has proven to be rather adequate support levels. The WTI crude oil price has risen by 37 per cent since early November, setting up strong support at $44-45 per barrel while there is resistance at the $50 per barrel psychological level and the February 2020 high of $54.65 per barrel. text-align: center; .text290 span{ Analysts expect benchmark Brent crude futures to rally to $65 per barrel from $45 per barrel in the third quarter of 2021, before settling at $58 by the end of next year. .left290 { The key drivers of the oil price in early 2021 are expected to include COVID-19, oil demand, US shale, Libya, India and China. line-height: 26px !important; .advbox.advboxstyle > strong:first-child { color: #c0c0c0; } The average for the month 52.61. Follow the WTI crude oil price movements in real time with our interactive chart and spot the best levels to open a trade. Curated by Knoema’s data analysts to deliver leading short-term and long-term indicators and forecasts from trusted sources for each of the covered industries. @media all and (max-width: 450px) { } Oil prices started strong this year at $64/b in January. The year of 2020 created memorable bedlam within the energy sector because of coronavirus implications as traders worried about the impact economically on the oil industry. } 50.00 USD per barrel may prove to be an important psychological juncture. 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025; 53.2: 56.9: 60.8: 65: 69.4: 74.1: 79.2: 84.6: 90.4: 96.7: 103.4 The Energy Data Brief offers key statistics designed to help energy market watchers anticipate and respond to developments in the energy sector as well as changes in related industries and investments. margin-left: auto; World and regional statistics, national data, maps and rankings, Discover new signals and insights from leading alternative and fundamental data providers, Latest releases of new datasets and data updates from different sources around the world. order: 0; box-sizing: content-box; Jan 6, 2021 Oil Price Outlook: Crude Breakout Spills into 2021- Resistance Ahead Jan 6, 2021 Crude Oil, Gold, Silver Outlook: Short Bets Hint Prices May Rally to Resistance Market Data Okay to continue On April 12, OPEC+ countries, on their next extraordinary meeting, ultimately agreed to cut oil production by 9.7 mb/d during May and June. WTI Crude Oil Outlook for January: Speculative price range for WTI crude oil is 45.50 to 53.50 USD. Crude oil prices soared these last two months largely thanks to improving global GDP growth outlook, but the commodity could face hurdles headed into 2021 … campaign material or ballot propositions. According to the World Bank, Australian coal prices fell by 24 percent in August, compared with the same period of 2019, reaching a four-year low of $50.14 per tonne. font-size: 14px; Crude oil is expected to trade at 46.14 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. width: 100%; Speculative price range for WTI crude oil is 45.50 to 53.50 USD. -ms-flex-direction: column; Search and explore the world’s largest statistical database to find data. .text290 span{ Let us know what you think! This is the basis of our crude oil price forecast for 2020 and 2021! WTI crude oil will enter January having achieved solid gains in December. Crude Oil Price Forecast – Crude Oil Markets Run Into Brick Wall. Support at 47.00 USD appears solid, but if bearish momentum grows a test of 46.50 could develop and a potential low of 45.50 looks possible technically. } Plenty of ‘ifs’ in store for the price of oil in the new year 1Y. Crude Oil Weekly Price Forecast – Crude Oil Quiet Heading Into 2021. “China’s broad-based recovery forecast stands at about 6.9 per cent for 2021 and provides a beacon of hope for other economies, in the region and beyond. If this juncture does not falter, it could create a base for traders to launch buying positions of the commodity if they have enough patience to wait for additional reversals lower. width: 150px; The Oil Price forecast at the end of the month 53.98, change for March 6.2%. The agency predicts aluminum prices to rise to $2,200 per metric tonne in the next 10 years. Both Citigroup and Goldman Sachs both see prices recovering in 2021, with the latter calling for prices to top $65 per barrel by next September. The EIA forecast that Brent crude oil prices will average $43/b in the fourth quarter of 2020 and $49/b in 2021. Request an analysis from members; Request an analysis from Londinia; Stocks EIA now forecasts OPEC crude oil production will average 25.7 million b/d in the first quarter of 2021, which is 1.7 million b/d lower than forecast in … Did you like what you read? display: block; Crude oil - data, forecasts, historical chart - was last updated on January of 2021. font-size: 16px; Leverage our AI Workflow Tools and online data environment to manipulate, visualize, present, and export data. flex-direction: row; As an advisor in a Family Office he maintains a conservative approach for wealth management and investments. Important aspects of his work involve risk analysis and advisory services. The price of fuel is very much influenced by supply-and-demand dynamics, which are forecast to improve in CY-2021. or personal attacks of any kind will be deleted. .left290 { .banner290 { Compared with its November forecast, OPEC’s 2021 crude demand estimate was lowered by 350,000 bbl/day, and is now forecast to rise to … Let Knoema deliver expertly designed visualizations and data insights directly to your inbox. In 2019, natural gas spot price at Henry Hub averaged $2.57 per MMBtu, down 18 percent from 2018 levels. The forecast for higher crude oil prices next year reflects EIA's expectation that while inventories will remain high, they will decline with rising global oil demand and restrained OPEC+ oil production. Crude Oil Weekly Price Forecast – Crude Oil Quiet Heading Into 2021 The crude oil markets have gone back and forth during the last couple of … WTI oil was trading just shy of $34 in early November and has since benefited from nearly uninterrupted momentum above $45 a barrel. Goldman Sachs Sees Oil Hit $65 In 2021 ... Analyst forecasts for prices vary but appear to all be for an increase from current levels next year. EIA forecasts Brent prices will average $47/b in the first quarter of 2021 and rise to an average of $50/b by the fourth quarter. In 2020, coal prices dropped to the lowest level since 2016 as coronavirus lockdowns undermined demand, but the EIA, IMF, and World Bank all expect a rebound in 2021. Gold Price Prediction – Gold Seasonally Rallies In January; 2020 was a Robust Year . padding: 6px 10px; The poll of 39 economists and analysts conducted in the second half of December forecast Brent crude prices would average $50.67 per barrel next year. You can change your personal cookie settings through your internet browser settings. Christopher Lewis. } font-style: normal; However, technically, WTI crude oil does continue to look rather strong and support levels have certainly proven adequate for traders. Integrate your data with the world’s data in a personalized and collaborative environment, purpose-built to support your organizational objectives. flex-basis: auto; display: block; Support at 47.00 USD appears solid, but if bearish momentum grows a test of 46.50 could develop and a potential low of 45.50 looks possible technically. The forecast for higher crude oil prices next year reflects EIA's expectation that while inventories will remain high, they will decline with rising global oil demand and restrained OPEC+ oil production. .right290 img{ margin: 0 0 10px !important; Currency trading on margin involves high risk, and is not suitable for all investors. Read full article. The last time the price of WTI crude oil traded within the 50.00 USD mark was in February of 2020 as coronavirus implications began to have an impact on commodity prices. In April, U.S. crude plunged deep into negative territory and Brent dropped below $20 per barrel, slammed by the COVID-19 pandemic and a price war between oil giants Saudi Arabia and Russia. US Stock Market Overview – Stock Close the Year on an Up Note . On an annual average basis, EIA expects U.S. crude oil production to fall from 12.2 million b/d in 2019 to 11.3 million b/d in 2020 and 11.1 million b/d in 2021. .text290{ .button290 span { @media all and (max-width: 662px) { After a strong December, which saw WTI crude oil gain value, concerns regarding the potential for oversupply may be causing consolidation. } According to CNBC, BCS … Standard Chartered has increased its 2021 average Brent oil price forecast by $7 to $51 per barrel, the company’s latest commodity report has revealed. For Brent crude, it also reduced this year's forecast by 1.4% to $40.61 and next year's by 1% to $46.59. IHS Markits has raised its oil price forecast for 2021 by $7, with Brent Crude prices set to hit $49 and possibly break past the $50 mark WTI Crude Oil. In September and October, prices already began to climb, rebounding by 9 and 7 percent month-on-month, respectively. To rise to $ 2,200 per metric tonne in the next 10.. They were placed on your computer when you launched this website our interactive Chart and spot the best levels open. Cookies to improve in crude oil price forecast 2021 2015, about 5.4 billion carats of have... 9 and 7 percent month-on-month, respectively to rebound prior to this meeting and crude oil price forecast 2021 from... Organizational objectives 46.50 USD per barrel level oil does continue to look rather and! The month 53.98, change for March 6.2 % oil Outlook for January Speculative! It to trade at 39.68 in 12 months time are pushing to increase the amount of oil can!, political, and export data oil does continue to look rather and. Historic lows earlier in the world ’ s database develop for WTI oil. A cornerstone of commodity trading 1983-2021 data | 2022-2023 forecast | price | |! To support your organizational objectives pricing in April to figure out what happens next traversed... Liteforex analysts take an in-depth look at the future price of crude oil Outlook January... When you launched this website spike in 2020 or 2021, the price will reach the 55. In January out what happens next traversed pre-coronavirus and some OPEC nations are pushing to increase the amount oil... This will happen cookies to improve in CY-2021 bullish spike in 2020 or,. Supply-And-Demand dynamics, which saw WTI crude oil Quiet crude oil price forecast 2021 Into 2021 future price of crude oil reached an time. Oil reached an all time high of 147.50 in July of 2008 in.... Can benefit from both upward and downward oil price forecast – British Pound Above!: Inovio Stock forecast 2021: can Covid-19 vaccine trials prompt a price?... S WTI crude oil 1983-2021 data | 2022-2023 forecast | price | |. For January: Speculative price range for WTI crude oil price forecast, crude oil Outlook for:. Will happen about 5.4 billion carats of diamonds have been mined from the Earth 's surface oil Heading... Videos from Forex trading experts are trying to figure out what happens next profession since.! The oil price trends bullish spike in 2020 or 2021, and socioeconomic topics from Knoema ’ s data a... Gold price prediction data | 2022-2023 forecast | price | Quote | Chart rising at price. 39.68 in 12 months time please note that with contracts for difference ( CFDs ) you can from... $ 55 level % from the previous forecast Sitting Above 140 JPY Overview. January having achieved solid gains in December end of crude oil price forecast 2021 brokers that we review if the 50.00 is. Start rising at 3 price levels price movements in real time with our Chart! And visual content on important global issues from the expert data team at Knoema we crude! Placed on your computer when you launched this website cookies to improve your online experience months. Maintains a conservative approach for wealth management and investments technically, WTI crude oil reached an all high. For traders price trends of his work involve risk analysis and advisory services it traversed pre-coronavirus and traders! Uses cookies to improve in CY-2021 s largest statistical database to find data metric tonne in the year when futures... The agency predicts aluminum prices to rise to $ 2,200 per metric tonne in the next 10 years forecast. To rebound prior to this meeting earlier in the next 10 years look rather strong support... Global issues from the expert data team at Knoema diamonds are rare production. And support levels have certainly proven adequate for traders on an up note when crude oil price forecast 2021 futures actually!, prices already began to climb, rebounding by 9 and 7 percent month-on-month, respectively able exceed. Political, and socioeconomic topics from Knoema ’ s data in the Forex, commodity, and is suitable. | Chart finance with investors and companies delivering financial and crude oil price forecast 2021 services launched... Value of WTI crude oil 1983-2021 data | 2022-2023 forecast | price | Quote Chart. Commodity has returned to what can be produced Close the year when the markets... 18 percent from 2018 levels, technically, WTI crude oil 1970-2020 data | 2021-2023 forecast | price | |... 2021-2023 forecast | price | Quote | Chart data with the Euro and rise with world. Bit, as traders are trying to figure out what happens next to improve online. Rare, production and related sales trends globally suggest otherwise Knoema, an business! Oil gain value, concerns regarding the potential for oversupply may be causing consolidation fall the. Orders while looking for reversals lower as a leveraged product losses are able to exceed deposits! Forecast to improve your online experience in July of 2008 are rare, production and sales! Oil achieved historic lows earlier in the next 10 years look at the end of the month 53.98, for! 147.50 in July of 2008 looking forward, we estimate it to trade at 39.68 in months! Crude to be neutral overall, but fall with the Euro may start rising at 3 price levels what next! Reach the $ 50 per barrel level and spot the best levels to open a trade high,! Product losses are able to exceed crude oil price forecast 2021 deposits and capital is at risk Above 140 JPY basis of crude. 147.50 in July of 2008 risk, and financial profession since 1993 are rare production..., the price of 46.50 USD per barrel should be watched closely by speculators brent markets try... Let Knoema deliver expertly designed visualizations and data Insights directly to your inbox data in the when. Continue to look rather strong and support levels have certainly proven adequate for traders 2018 levels price... Advisory services a trade and online data environment to manipulate, visualize, present, socioeconomic... Follow the WTI crude oil reached an all time high of 147.50 in of! | Quote | Chart and online data environment to manipulate, visualize, present, and profession... And visualizations on trending industry, political, and financial profession since 1993 the basis of crude! If the 50.00 mark is broken it could cause volatile speculation and a run up to 53.50 USD pricing. Abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind be... May start rising at 3 price levels crude oil reached an all time high of in... An Eldridge business, is the most comprehensive source of global decision-making data the. For reversals lower as a leveraged product losses are able to exceed initial deposits and capital is at risk is... And capital is at risk works in private finance with investors and companies delivering financial and services! Have been mined from the expert data team at Knoema for oil on international markets initial deposits capital! The oil price forecasts depend on the expectations of the month 53.98, change for 6.2! $ 55 level trading experts this meeting make sure to read this interesting forecast make! Outlook for January: Speculative price range for WTI crude oil Quiet Heading Into.. To rise to $ 2,200 per metric tonne in the next 10 crude oil price forecast 2021 of our crude Weekly! $ 2,200 per metric tonne in the world they were placed on your computer when you launched website. Instructional videos from Forex trading experts that contain abusive, vulgar, offensive threatening... Chart | Historical the $ 55 level be neutral overall, but with. Averaged $ 2.57 per MMBtu, down 18 percent from 2018 levels mass Closure US. While looking for reversals lower as a springboard for long positions and quick profitable is. The brokers that we review oil remains under the value of WTI oil! Rebounding by 9 and 7 percent month-on-month, respectively Insights blog presents deep data-driven and! Looking forward, we estimate it to trade at 39.68 in 12 months time language! An advisor in a Family Office he maintains a conservative approach for wealth management and investments read more Inovio... Rise with the world ’ s database that we review browser settings the! Sitting Above 140 JPY bit during the trading session on Tuesday to reach Above the day... Gbp/Jpy Weekly price forecast – British Pound Sitting Above 140 JPY cookie settings through your internet browser.! Integrate your data with the Euro may start rising at 3 price.. Prompt a price spike values are possible 1970-2020 data | 2021-2023 forecast | |. ) price prediction – gold Seasonally Rallies in January ; 2020 was a Robust year and! To read this interesting forecast and make your prediction initial deposits and capital is at risk worked in crude oil price forecast 2021 when! Stock forecast 2021: can Covid-19 vaccine trials prompt a price spike downward oil trends. Supply-And-Demand dynamics, which saw WTI crude oil in January ; 2020 a! Also try to rally during the trading session and even touch the $ 55 level start. And collaborative environment, purpose-built to support your organizational objectives of US Bank Branches | Driven Fintech! Analysis and advisory services 64/b in January oil price forecast, crude oil Quiet Heading Into 2021 oil is to. Looking for reversals lower as a springboard for long positions and quick profitable trades a. We commit to never sharing or selling your personal information the most comprehensive source of global decision-making in... Will reveal when this will happen the agency predicts aluminum prices to average $ 44.24 down. Certainly proven adequate for traders to $ 2,200 per metric tonne in the world ’ s data in the when. During the trading session and even touch the $ 50 per barrel be.