Oil prices are unlikely to mount much of a recovery in 2021 as a new coronavirus variant and related travel restrictions threaten already weakened fuel demand, a Reuters poll showed on Thursday.
The poll of 39 economists and analysts conducted in the second half of December forecast Brent crude prices would average US$50.67 a barrel next year.
That is up from a poll last month that forecast a 2021 average price of US$49.35 a barrel but little changed from Brent trading at around US$51 on Thursday. [O/R]
West Texas Intermediate U.S. crude futures are expected to average US$47.45 a barrel in 2021, the poll showed.
That, too, is up from a November consensus of US$46.40 a barrel but little changed from Thursday WTI trading near US$48.