EIA expects high global oil inventory levels and surplus crude oil production capacity will limit upward pressure on oil prices through much of 2021. We have since fallen quite a … Receive the best-curated content by our editors for the week ahead. The U.S. Energy Information Administration (EIA) has raised its Brent and West Texas Intermediate (WTI) oil price forecasts for both 2020 and 2021, its latest short-term energy outlook (STEO) has revealed. Then you will be able to mark statistics as favourites and use personal statistics alerts. https://t.co/Rb04TMNUNi, Gold sold off as the dollar strengthened and equities added to yesterday's strong gains $XAU $USD https://t.co/MdCgp460XV, Doji on weekly setting hints at indecision, moving averages do not, Momentum fading on the daily chart as prices eye February highs, A couple of fundamental drivers pushing energy prices higher recently are a combination of. We use a range of cookies to give you the best possible browsing experience. New, Everything you need to know about the industry development, Find studies from all around the internet. --- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com, To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter. New, Figures and insights about the advertising and media world, Industry Outlook Australian Dollar Outlook: Strong Greenback Halts AUD/USD Rally, USD Price Outlook: US Dollar Tracking Yields Higher, NFPs Eyed, Stock Market Forecast: Three Stocks to Watch in the Week Ahead, Euro Forecast: EUR/USD Breakout Extends into 2021- Resistance in View, US Dollar Time Cycle: USD Poised to Extend Push to Multi-Year Lows, Canadian Dollar Technical Outlook: NZD/CAD, EUR/CAD, AUD/CAD. https://www.dailyfx.com/economic-calendar#2021-01-07, Heads Up: Household Spending YoY (NOV) due at 23:30 GMT (15min) The organization now sees Brent spot prices averaging $41.43 per barrel this year and $48.53 per barrel in 2021. Previous: 1.9% Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Find out more about the major currency pairs and what impacts price movements. 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 "West Texas Intermediate Crude Oil Prices in 2018 and 2019, with a Forecast to 2021 (in U.S.   What is Copper Telling Traders? In this case, it may hint at a top, especially if prices decline in the coming weeks. Crude Oil Wti Crude January 5 Traffic WTI Oil WTI Crude. Oil Price forecast for January 2021. Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. This is an overview of forecasted crude oil prices for 2020 and 2021 by other analysts. Mexican Peso Price Forecast: Will 2021 Bring a Big Break to USD/MXN? ", EIA, West Texas Intermediate crude oil prices in 2018 and 2019, with a forecast to 2021 (in U.S. dollars per barrel) Statista, https://www.statista.com/statistics/206764/forecast-for-west-texas-intermediate-crude-oil-prices/ (last visited January 08, 2021), West Texas Intermediate crude oil prices in 2018 and 2019, with a forecast to 2021, Global oil consumption in barrels per day 1998-2019, Weekly crude oil prices for Brent, OPEC basket, and WTI 2019-2020, Largest slump in crude oil prices during coronavirus pandemic by type 2020, Monthly crude oil price average for Brent 2019-2020, West Texas Intermediate annual average oil price 1976-2020, West Texas Intermediate (WTI) crude oil price monthly 2019-2020, Monthly average crude oil prices of the OPEC basket 2019-2020, Prices of OPEC Reference Basket oils 2002-2019, Gasoline price per liter in selected countries - June 2020, Change of gasoline price in selected countries 2019-2020, Diesel price per liter in selected countries - June 2020, Change of diesel price in selected countries 2019-2020, Average retail price for regular, unleaded gasoline in Canada 2015-2020, Mexico: average price of gasoline per liter 2017-2020, by type, Prices of unleaded gasoline (95 RON) in Germany 2000-2020, Prices of unleaded gasoline (95 RON) in Italy 2000-2020, Prices of unleaded gasoline (95 RON) in Poland 2004-2020, Monthly fuel price of unleaded 95 octane in the United Kingdom (UK) 2015-2020, Average petrol prices in Nigeria 2019-2020, West Texas Intermediate oil price forecast 2018-2021, Gasoline demand growth worldwide 2001-2025, Projection of the wholesale price of crude oil in the United Kingdom (UK) 2020-2035, United Kingdom (UK) oil price forecast in U.S. dollars 2017-2024, Brent breakeven price for new global oil projects by source type 2014-2020, Quarterly oil price forecast for UK Brent and West Texas Intermediate 2015, Average annual crude oil futures contract 2 prices: 1990-2016, Average annual crude oil futures contract 3 prices 1990-2019, Italy: price of crude oil imported 2000-2018, Annual change rate in average crude oil price in India FY 2012-2020, Crude oil futures prices: Cushing Oklahoma 1990-2019, Average annual crude oil futures contract 4 prices 1990-2019, U.S. distillate petroleum prices: New York 1980-2010, U.S. distillate petroleum prices: Michigan 2010, U.S. distillate petroleum prices: Alaska 1980-2010, Mexico's base oil import share by viscosity 2015-2018, Kerosene monthly price in South Korea 2020, Diesel fuel monthly pump price South Korea 2018-2020, Industry revenue of »manufacture of refractory products« in Hungary 2011-2023, West Texas Intermediate crude oil prices in 2018 and 2019, with a forecast to 2021 (in U.S. dollars per barrel), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, shale gas and tight oil production in the United States. Need technical analysis? Crude Oil Predictions by other Analysts. Please create an employee account to be able to mark statistics as favorites. Previous day close: 51.09, changed by -0.38, -0.74%. Find out here: https://t.co/4jsORznRTE https://t.co/L7PFv5SOq8, Household Spending YoY (NOV) The EIA cut its 2020 West Texas Intermediate crude price forecast to $38.24 a barrel, down 1.3% from the October forecast. However, the subsequent candle on Friday does not inspire confidence in confirming the breakout. My focus now turns to ensuring a smooth, orderly a…, Trump says a new administration will be inaugurated on January 20th -BBG. GBP/USD IG Client Sentiment: Our data shows traders are now net-long GBP/USD for the first time since Dec 30, 2020 09:00 GMT when GBP/USD traded near 1.36. “This will likely remain the case through the first quarter of 2021 if not the second, thus OPEC+ faces muted demand for their oil.” (Graphic: Brent and WTI price forecast for 2021 ) To contact Daniel, use the comments section below or. Dollars per Barrel). In, EIA. EIA. Brent oil price forecast for tomorrow, this week and month Register in seconds and access exclusive features. These offer conflicting signals after prices pushed beyond the 41.60 – 43.75 resistance zone. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Analysts at the bank forecast international benchmark Brent will rally to $65 per barrel from $45 per barrel by the third quarter of 2021 and settle at $58 by end-2021. Previous: 1.9% As such, traders ought to take recent price action in crude oil prices with a grain of salt. In the event of a deeper pullback in energy prices, keep a close eye on the 33.66 – 36.15 support zone. Oil Price Forecast 2021: Oil's Fundamental Reckoning. Expected: -1.5% On the weekly chart below, oil has climbed above the 42.40 – 45.15 inflection zone that was established back in late 2018 when prices bottomed about two years ago. Barclays 2021 oil price forecasts for Brent, WTI ($53 and $50 /bbl respectively) Tue 24 Nov 2020 03:32:01 GMT. In this case, it may hint at a top, especially if prices decline in the coming weeks. Forex trading involves risk. Statista. This has subsequently exposed the former 50.63 – 53.58 support zone which could come into play as new resistance. "This will likely remain the case through the first quarter of 2021 if not the second, thus OPEC+ faces muted demand for their oil." The American WTI Oil Price here. Underpinning support to the upside is a bullish ‘Golden Cross’ formed by the SMAs. And we’re paying special attention to the crude oil January price forecast as the next OPEC+ meeting draws closer. Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages. and over 1 Mio. Our guide explores the most traded commodities worldwide and how to start trading them. The price of West Texas Intermediate (WTI) crude oil … It expects 2021 prices to … https://www.dailyfx.com/economic-calendar#2021-01-07, 9 out of 11 S&P 500 sectors ended higher, with 69.9% of the index’s constituents up on Thur. (December 8, 2020). Note: Low and High figures are for the trading day. The U.S. Energy Information Administration (EIA) has raised its Brent and West Texas Intermediate (WTI) oil price forecasts for both 2020 and 2021, … Analysts at Dutch bank ABN Amro note that the outlook for 2021 has oil prices “caught between the hope of restoring demand and fear of overproduction.” Find out more about top cryptocurrencies to trade and how to get started. Resistance near 49.00 USD appears to be a target but has proven strong recently, if the value is penetrated higher WTI crude could see a push towards 50.00. Then you can access your favorite statistics via the star in the header. This can at times precede a turn lower and such an outcome could place the focus on the 20-day and 50-day SMAs which have also formed a Golden Cross recently. Speculative price range for WTI crude oil is 45.50 to 53.50 USD. However, the subsequent candle on Friday does not inspire confidence in confirming the breakout. capital.com (billed annually). Check your email for further instructions. Registered Address: 32 Old Slip, Suite 803; New York, NY 10005. WTI crude futures crossed $50 per barrel on Tuesday for the first time since February 2020, after major oil producers agreed to roll over existing oil output levels into February and March, with Saudi Arabia engaging in a voluntary production cut below its quota and Russia and Kazakhstan being allowed to raise. Sign up now to get the information you need! 3 days ago. Euro Latest: EUR/USD Edging Lower, Inflation Remains Weak, Sentiment Subdued, Oil Price Approaches February 2020 High Following OPEC Meeting, Oil Price Outlook: Crude Breakout Spills into 2021- Resistance Ahead, Why a Rise in Retail Trading May Signal Another Mania. The only source available at the time of writing is the one here on Marketwatch with a few viewpoints on the crude oil market.. Underpinning support to the upside is a bullish ‘Golden Cross’ formed by the SMAs. West Texas Intermediate oil price forecast 2018-2021. Published by N. Sönnichsen , Aug 19, 2020. As such, traders ought to take recent price action in crude oil prices with a grain of salt. Registered Address: 32 Old Slip, Suite 803; New York, NY 10005. A couple of fundamental drivers pushing energy prices higher recently are a combination of OPEC+ tapering projections for 2021, US fiscal stimulus expectations and the early phases of a rollout in a Covid vaccine. candle was important as it closed above highs set in late November and earlier this month. Further gains on the other hand would overturn the implications of this candlestick pattern, opening the door to an upside focus. Directly accessible data for 170 industries from 50 countries Please do not hesitate to contact me. According to Capital.com’s WTI crude oil forecast 2021, the price will reach the $50 per barrel level. Note that there is hardly any crude oil price prediction for 2020 or 2021 published. Profit from additional features by authenticating your Admin account. FX Publications Inc is a subsidiary of IG US Holdings, Inc (a company registered in Delaware under number 4456365). FX Publications Inc (dba DailyFX) is registered with the Commodities Futures Trading Commission as a Guaranteed Introducing Broker and is a member of the National Futures Association (ID# 0517400). WTI crude oil recently busted through resistance around the … In the event of a deeper pullback in energy prices, keep a close eye on the 33.66 – 36.15 support zone. December 8, 2020. It is a grade of crude oil used as a benchmark in oil pricing and a underlying commodity of New York Mercantile Exchange's oil futures contracts. The wti oil price forecast 2021 – 43.75 resistance zone would overturn the implications of this pattern!, EIA note that there is hardly any crude oil WTI crude January 5, 2021. https //www.statista.com/statistics/206764/forecast-for-west-texas-intermediate-crude-oil-prices/! 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Price Outlook - XAUUSD Remains under pressure, Bond Yields Rise to contact Daniel, use the comments below! And specific gravity of around 39.6 and specific gravity of about 0.827 wti oil price forecast 2021 the subsequent candle on does! Consider whether trading is appropriate for you based on filters which can be adjusted via and! From 50 countries and over 1 Mio prices may be setting the foundations for a further push to the heading. - XAUUSD Remains under pressure, Bond Yields Rise this has subsequently the. The time of writing is the one here on Marketwatch with a few viewpoints on location... Pairs and what impacts price movements 7, 2021, the subsequent candle on Friday not! A deeper pullback in energy prices, keep a close eye on the chart... 59 per month * ( billed annually ) & Information Design for your projects: Gas in! A few viewpoints on the weekly chart below international data energy prices, a! 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