By pressing 'Subscribe' you consent to receive newsletters which may contain promotional content. By continuing to use this website, you agree to our use of cookies.You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. Oil Price forecast for January 2021. In this case, it may hint at a top, especially if prices decline in the coming weeks. FX Publications Inc is a subsidiary of IG US Holdings, Inc (a company registered in Delaware under number 4456365). Corporate solution including all features. My focus now turns to ensuring a smooth, orderly a…, Trump says a new administration will be inaugurated on January 20th -BBG. WTI crude oil prices may be setting the foundations for a further push to the upside heading into the last few weeks of 2020. The U.S. Energy Information Administration (EIA) has raised its Brent and West Texas Intermediate (WTI) oil price forecasts for both 2020 and 2021, … Get top insights on the most traded stock indices and what moves indices markets. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. seems to have been established which is a sign of indecision. 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. 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). This is an overview of forecasted crude oil prices for 2020 and 2021 by other analysts. At times, this candle can signal a turning point depending on the location. Underpinning support to the upside is a bullish ‘Golden Cross’ formed by the SMAs. candle was important as it closed above highs set in late November and earlier this month. , US fiscal stimulus expectations and the early phases of a rollout in a Covid vaccine. Now, prices have also climbed above the 20-period and 50-period Simple Moving Averages (SMAs) on the weekly chart below. However, a Doji candle seems to have been established which is a sign of indecision. EIA. New, Figures and insights about the advertising and media world, Industry Outlook We have since fallen quite a … And we’re paying special attention to the crude oil January price forecast as the next OPEC+ meeting draws closer. Chart. High global oil inventory and surplus oil production capacity are expected to limit oil price increases in 2021. Receive the best-curated content by our editors for the week ahead. Further gains on the other hand would overturn the implications of this candlestick pattern, opening the door to an upside focus. The only source available at the time of writing is the one here on Marketwatch with a few viewpoints on the crude oil market.. The December 10th candle was important as it closed above highs set in late November and earlier this month. Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. (December 8, 2020). Brent Oil Price equal to 50.71 Dollars per 1 barrell. Check your email for further instructions. 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. (billed annually). Published by N. Sönnichsen , Aug 19, 2020. Register in seconds and access exclusive features. Accessed January 08, 2021. https://www.statista.com/statistics/206764/forecast-for-west-texas-intermediate-crude-oil-prices/, EIA. capital.com Are different world leaders a contributing factor? Recommended by Daniel Dubrovsky, Don’t give into despair, make a game plan. How can retail positioning drive crude oil ahead? Will oil prices go up? 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. Previous: 1.9% The year is only 7 days in... Currency exchange rates are impacted by several factors. Our guide explores the most traded commodities worldwide and how to start trading them. The Oil Price forecast at the end of the month 49.06, change for January 1.3%. WTI crude oil prices may be setting the foundations for a further push to the upside heading into the last few weeks of 2020. Find out here: https://t.co/4jsORznRTE https://t.co/L7PFv5SOq8, Household Spending YoY (NOV) The West Texas Intermediate crude oil market initially rallied early on Monday to reach towards the $50 level, an area that will attract a lot of attention because it is a large, round, psychologically significant figure. 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. 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. The EIA forecasts that WTI prices will average around $39/b in 2020 and $46/b in 2021. ", 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. We use a range of cookies to give you the best possible browsing experience. 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. By Katrina Ang January 7, 2021, 3:46 am • Posted in Commodities. A hunt for yield in developing markets this year could translate into Singapore Dollar strength vs the USD Learn more about how Statista can support your business. West Texas Intermediate (WTI) U.S. crude futures are expected to average $47.45 per barrel in 2021, the poll showed. Then you will be able to mark statistics as favourites and use personal statistics alerts. Zooming in on the daily chart for a more immediate picture, I have pointed out negative RSI divergence, a sign of fading upside momentum. 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. 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. 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. 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. https://www.dailyfx.com/economic-calendar#2021-01-07, Heads Up: Household Spending YoY (NOV) due at 23:30 GMT (15min) Note: Low and High figures are for the trading day. 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 In, EIA. 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). $59 per month* At times, this candle can signal a turning point depending on the location. Forex trading involves risk. Find out more about the major currency pairs and what impacts price movements. Crude Oil Predictions by other Analysts. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. In this case, it may hint at a top, especially if prices decline in the coming weeks. 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)." Need technical analysis? Please create an employee account to be able to mark statistics as favorites. The EIA cut its 2020 West Texas Intermediate crude price forecast to $38.24 a barrel, down 1.3% from the October forecast. December 8, 2020. Dollars per Barrel). As such, traders ought to take recent price action in crude oil prices with a grain of salt. Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages. 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. Speculative price range for WTI crude oil is 45.50 to 53.50 USD. It expects 2021 prices to … No entries matching your query were found. West Texas Intermediate crude oil prices in 2018 and 2019, with a forecast to 2021 (in U.S. dollars per barrel) [Graph]. Barclays 2021 oil price forecasts for Brent, WTI ($53 and $50 /bbl respectively) Tue 24 Nov 2020 03:32:01 GMT. 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 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. Losses can exceed deposits. You only have access to basic statistics. Directly accessible data for 170 industries from 50 countries Mexican Peso Price Forecast: Will 2021 Bring a Big Break to USD/MXN? "This will likely remain the case through the first quarter of 2021 if not the second, thus OPEC+ faces muted demand for their oil." Expected: -1.5% As such, traders ought to take recent price action in crude oil prices with a grain of salt. Actual: 1.1% Note that there is hardly any crude oil price prediction for 2020 or 2021 published. Underpinning support to the upside is a bullish ‘Golden Cross’ formed by the SMAs.   In the event of a deeper pullback in energy prices, keep a close eye on the 33.66 – 36.15 support zone. 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. Written by Keith Kohl. Please contact us to get started with full access to dossiers, forecasts, studies and international data. The price of West Texas Intermediate (WTI) crude 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. 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. However, the subsequent candle on Friday does not inspire confidence in confirming the breakout. Request an analysis from members; Request an analysis from Londinia; Stocks However, the subsequent candle on Friday does not inspire confidence in confirming the breakout. This has subsequently exposed the former 50.63 – 53.58 support zone which could come into play as new resistance. FX Publications Inc is a subsidiary of IG US Holdings, Inc (a company registered in Delaware under number 4456365). West Texas Intermediate oil price forecast 2018-2021. Please authenticate by going to "My account" → "Administration". "West Texas Intermediate Crude Oil Prices in 2018 and 2019, with a Forecast to 2021 (in U.S. Support at 47.00 USD appears solid, but if bearish momentum grows a test of 46.50 could develop and a potential low of 45.50 looks possible technically. Today's range: 50.71-50.81. Then you can access your favorite statistics via the star in the header. 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. Registered Address: 32 Old Slip, Suite 803; New York, NY 10005. Previous: 1.9% Are Gold Prices Losing their Luster? WTI crude oil recently busted through resistance around the … “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 ) DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. And earlier this month January 08, 2021. https: //www.statista.com/statistics/206764/forecast-for-west-texas-intermediate-crude-oil-prices/, EIA for all.! Contain promotional content price action in crude oil prices through much of 2021 new! The other hand would overturn the implications of this candlestick pattern, opening the door to an upside wti oil price forecast 2021... The other hand would overturn the implications of this candlestick pattern, the... Forecast: will 2021 Bring a Big Break to USD/MXN price range for WTI crude oil prices a! 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Margin carries significant risk and may not be suitable for all investors //www.statista.com/statistics/206764/forecast-for-west-texas-intermediate-crude-oil-prices/, EIA 170.