The Oil Industry's 2021 Outlook Looks Bleak ... Crude oil prices were in the $60s, fueled by the view that demand growth was on track to accelerate. What is your view – will oil price increase predictions prove accurate? West Texas Intermediate (WTI) U.S. crude futures are expected to average $47.45 per barrel in 2021, the poll showed. But don’t worry, renegade Gen. and Field Marshal Khalifa Haftar informed us he’s lifting an eight-month blockade on Libya’s port. Keith connects with hundreds of thousands of readers as the Managing Editor of. I have a feeling the EIA will be breaking out the revision pen before too long… depending on how dire our supply situation becomes. There will be money made. Oil prices started strong this year at $64/b in January. © 2021 Energy and Capital. If you really want to make money, there's no better system than the stock market. Exclusive Report: Three, Fat, Dividend-Paying, Blue-Chip, Contrarian Stocks to Buy Now. 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. After getting your report, you’ll begin receiving the Energy and Capital e-Letter, delivered to your inbox daily. Historically, Palm Oil reached an all time high of 4298 in March of 2008. That is up from a poll last month that forecast a 2021 average price of $49.35 per barrel but little changed from Brent trading at around $51 on Thursday. All you have to do to join our Energy and Capital investment community is sign up for the daily newsletter below. It expects 2021 prices to average $45.78, up 3.5% from the previous forecast. Trillions will be spent to secure the world's energy supply over the next two decades...and all sources are on the table. Crude oil - data, forecasts, historical chart - was last updated on January of 2021. Energy has become fundamental to the very basic functions of contemporary civilization. The Best Free Investment You''ll Ever Make. For instance, in their Brent oil price forecast, analysts at Goldman Sachs see the commodity surging to $65 per barrel by the third quarter of 2021, right before ending the year at $58. 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. One way to try to profit from the commodity’s volatility while the outlook remains uncertain is to trade it with contracts for difference (CFDs). His research has helped thousands of investors capitalize from the rapidly changing face of energy. 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. Sign up to receive your free report. 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 … You'll also have exclusive FREE access to the market insight offered in the Energy and Capital e-mail newsletter, which will help you shape your investment portfolio no matter which way the market swings. And the IMF doesn’t see oil prices staging a dramatic recovery anytime soon, predicting prices in the $40 to $50 range in 2021. Of course, I mention this as Tropical Storm Beta dumps a massive amount of rain along the Texas coast. The U.S. Energy Information Administration (EIA) expects that Brent prices will average $49/b in 2021, up from an expected average of $43/b in the fourth quarter of 2020. This is likely to happen at the end of 2020 or in 2021 when the Euro goes up. 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