On Tuesday, January 19, oil resumed its rise: The price of Brent crude rose 1.97%, to $55.74 per barrel, and WTI rose 1.7%, to $52.97 a barrel. The International Energy Agency’s monthly report published on Tuesday, despite lowering its forecast for global oil demand by 300,000 barrels per day in 2021, reported that low demand could only continue in the first quarter of this year, and in the second quarter, and especially in the second half of 2021, oil demand growth could increase. OPEC Secretary General Mohammad Barkindo said Tuesday at the World Energy Forum in Abu Dhabi that he hopes for closer cooperation between the U.S. oil cartel and oil companies, without specifying what form such cooperation can take or with whom. This morning oil prices continue to rise against a rather optimistic backdrop of news: the price of Brent is rising by 0.8% and the price of WTI – also by 0.8%. We look forward to the price of Brent today of $56-$57 per barrel.