- I am increasing my December West Texas Intermediate oil price forecast by $2.50 to $42.50 to $52.50 per barrel for January 2021.
- As we roll further into 2021, I expect more progress in controlling the pandemic and more optimism toward higher oil prices.
- I expect oil equities to move higher with rising oil prices, though not to the same levels they were at prior to the outbreak of COVID-19.
- In general, though, until we learn more how the new administration repositions its policies, I am taking a wait-and-see approach.
For further details see:
Oil Update - December 2020