This has subsequently exposed the former 50.63 – 53.58 support zone which could come into play as new resistance. Forex trading involves risk. At times, this candle can signal a turning point depending on the location. Information technology (+2.65%), consumer discretionary (+1.80%) were among the best performers, whereas defensive-linked utilities (-1.33%) and consumer staples (-0.32%) were lagging. seems to have been established which is a sign of indecision. What are the WTI oil price predictions for 2021? "West Texas Intermediate crude oil prices in 2018 and 2019, with a forecast to 2021 (in U.S. dollars per barrel)." By pressing 'Subscribe' you consent to receive newsletters which may contain promotional content. In the event of a deeper pullback in energy prices, keep a close eye on the 33.66 – 36.15 support zone. However, the subsequent candle on Friday does not inspire confidence in confirming the breakout. (December 8, 2020). Underpinning support to the upside is a bullish ‘Golden Cross’ formed by the SMAs. Today's range: 50.71-50.81. At times, this candle can signal a turning point depending on the location. WTI crude oil prices may be setting the foundations for a further push to the upside heading into the last few weeks of 2020. A hunt for yield in developing markets this year could translate into Singapore Dollar strength vs the USD Forecast of Crude Oil Price (WTI) Below is a forecast of light, sweet crude oil prices that is based on prior values of both WTI and Brent crude oil prices, global oil production and consumption, crude oil inventories, currency exchange rates, and other commodity prices. The Oil Price forecast at the end of the month 49.06, change for January 1.3%. The first quarter 2021 average is $5/b more than forecast in last month's STEO, and the fourth quarter average is $1/b more. , US fiscal stimulus expectations and the early phases of a rollout in a Covid vaccine. Previous day close: 51.09, changed by -0.38, -0.74%. Crude Oil Predictions by other Analysts. Further gains on the other hand would overturn the implications of this candlestick pattern, opening the door to an upside focus. Brent Oil Price equal to 50.71 Dollars per 1 barrell. Previous: 1.9% Oil Price forecast for January 2021. New, Everything you need to know about the industry development, Find studies from all around the internet. 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. 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. Then you can access your favorite statistics via the star in the header. Receive the best-curated content by our editors for the week ahead. Now, prices have also climbed above the 20-period and 50-period Simple Moving Averages (SMAs) on the weekly chart below. Profit from additional features by authenticating your Admin account. No entries matching your query were found. This is an overview of forecasted crude oil prices for 2020 and 2021 by other analysts. Losses can exceed deposits. Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. Register in seconds and access exclusive features. ", 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. Brent crude oil prices will average $41.42 per barrel in 2020 and $49.53 per barrel in 2021 according to the most recent forecast from the US Energy Information Administration's (EIA) monthly Short-Term Energy Outlook. 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. candle was important as it closed above highs set in late November and earlier this month. And we’re paying special attention to the crude oil January price forecast as the next OPEC+ meeting draws closer. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. The average for the month 48.62. Request an analysis from members; Request an analysis from Londinia; Stocks How can retail positioning drive crude oil ahead? My focus now turns to ensuring a smooth, orderly a…, Trump says a new administration will be inaugurated on January 20th -BBG. and over 1 Mio. The oil price collapsed in early 2020 from $65 to $10 a barrel but is now heading back to the $50 level. Speculative price range for WTI crude oil is 45.50 to 53.50 USD. Check out our take on the crude oil price anaysis for January 2021 and find out how prices are likely to develop throughout the next weeks. Find out here: https://t.co/4jsORznRTE https://t.co/L7PFv5SOq8, Household Spending YoY (NOV) Oil 1Q 2021 Forecast: Positive Momentum Heading Into the New Year, 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). Actual: 1.1% Please do not hesitate to contact me. British Pound (GBP) Latest: USD Stabilizing, Hitting GBP/USD, EUR/USD, AUD/USD, Monthly Forex Seasonality - January 2021: Start of Year Favors CAD, Gold Strength; USD Weakness, Joe Biden to present more key members of the economy team on Friday -BBG, The MSCI #EmergingMarkets Index nears record-high territory, eyeing resistance from peaks in 2007 The price of West Texas Intermediate (WTI) crude oil … "West Texas Intermediate Crude Oil Prices in 2018 and 2019, with a Forecast to 2021 (in U.S. Chart. Please contact us to get started with full access to dossiers, forecasts, studies and international data. Please create an employee account to be able to mark statistics as favorites. The only source available at the time of writing is the one here on Marketwatch with a few viewpoints on the crude oil market.. In, EIA. The organization now sees Brent spot prices averaging $41.43 per barrel this year and $48.53 per barrel in 2021. The December 10th candle was important as it closed above highs set in late November and earlier this month. Statista. FX Publications Inc is a subsidiary of IG US Holdings, Inc (a company registered in Delaware under number 4456365). Previous: 1.9% Barclays 2021 oil price forecasts for Brent, WTI ($53 and $50 /bbl respectively) Tue 24 Nov 2020 03:32:01 GMT. Find out more about the major currency pairs and what impacts price movements. 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. West Texas Intermediate crude oil prices in 2018 and 2019, with a forecast to 2021 (in U.S. dollars per barrel) [Graph]. WTI Crude Oil Forecast January 5, 2021. youtube | 3h. The American WTI Oil Price here. In its latest Short-Term Energy Outlook, the EIA projects WTI crude prices to average $45.07 per barrel next year. Note: Low and High figures are for the trading day. 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 Bitcoin is up 36% on the year. capital.com We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Gold Price Outlook - XAUUSD Remains Under Pressure, Bond Yields Rise. This feature is limited to our corporate solutions. EIA expects high global oil inventory levels and surplus crude oil production capacity will limit upward pressure on oil prices through much of 2021. The EIA cut its 2020 West Texas Intermediate crude price forecast to $38.24 a barrel, down 1.3% from the October forecast. 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. Are Gold Prices Losing their Luster? Directly accessible data for 170 industries from 50 countries This is a decrease from an average of $64.37 per barrel in 2019 and reflects a forward revision of $0.92 per barrel for 2020 compared to the previous estimate. "This will likely remain the case through the first quarter of 2021 if not the second, thus OPEC+ faces muted demand for their oil." 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. Oil Price Forecast 2021: Oil's Fundamental Reckoning. Check your email for further instructions. FX Publications Inc is a subsidiary of IG US Holdings, Inc (a company registered in Delaware under number 4456365). The higher expected first quarter prices reflect steeper expected global oil inventory draws as a result of the December 3 OPEC+ decision to limit its previously planned production increases in January 2021. These offer conflicting signals after prices pushed beyond the 41.60 – 43.75 resistance zone. WTI Crude Oil Price Analysis for Jan. 7, 2021. WTI crude oil recently busted through resistance around the … Then you will be able to mark statistics as favourites and use personal statistics alerts. 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). --- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com, To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter. December 8, 2020. What is Copper Telling Traders? “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 ) Please authenticate by going to "My account" → "Administration". Learn more about how Statista can support your business. Further gains on the other hand would overturn the implications of this candlestick pattern, opening the door to an upside focus. Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages. Published by N. Sönnichsen , Aug 19, 2020. Now, prices have also climbed above the 20-period and 50-period Simple Moving Averages (SMAs) on the weekly chart below. Oil 1Q 2021 Forecast: Positive Momentum Heading Into the New Year 2021-01-01 20:00:00 Crude Oil 1Q 2021 Forecast: Covid to Clash with Vaccine Rollout Sign up now to get the information you need! EIA forecasts OPEC crude oil production will average 27.5 million barrels per day (b/d) in 2021, up from an estimated 25.6 million b/d in 2020. Expected: -1.5% Underpinning support to the upside is a bullish ‘Golden Cross’ formed by the SMAs. The year is only 7 days in... Currency exchange rates are impacted by several factors. As such, traders ought to take recent price action in crude oil prices with a grain of salt. The U.S. Energy Information Administration (EIA) has raised its Brent and West Texas Intermediate (WTI) oil price forecasts for both 2020 and 2021, … In the beginning price at 49.06 Dollars. 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. Need technical analysis? 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