OPEC slightly improves oil demand forecast

On Monday, December 14, crude oil prices, swinging on a “swing,” tilted again toward higher: Brent rose 0.74%, to $50.22 a barrel, and WTI prices rose 0.87%, to $47.09 a barrel. In a monthly report published yesterday, OPEC slightly improved its forecast for global oil demand in 2020, but lowered its forecast for global demand in 2021 by 350,000 barrels per day. Overall, the OPEC report found objectively existing facts, and the oil market was again affected by news of blockades in Europe during the New Year holidays.

Today, for fear of a deterioration in the global economy, oil “fluctuations” are running down again: the price of Brent is down 0.74% and WTI is down 0.6%. As of today, we are forecasting a corridor for Brent of $49-$50.3 per barrel.

Leave a Reply