Economists at OCBC Bank see Brent dipping to a low of $45/bbl in Q1 and early Q2, but may rally to $55/bbl by the end of 2021. Key quotes “The demand recovery path is not expected to be linear, with the on-off risks of travel restrictions and vaccine manufacturing infrastructure likely to dominate the landscape in early 2021.” “The start of 2021 will likely prove to be rocky for crude oil, as OPEC+ will presumably raise output each month and Libya continues pumping oil back into international trade.” “Supply will likely outstrip demand in Q1 till mid-Q2 and Brent may search for a bottom at $45/bbl. From late Q2 on, we expect the wide distribution of a vaccine to lift fundamental demand, resulting in a supply deficit and lifting Brent to $55/bbl by year-end.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD looks for additional gains towards the 1.2270-75 zone FX Street 1 year Economists at OCBC Bank see Brent dipping to a low of $45/bbl in Q1 and early Q2, but may rally to $55/bbl by the end of 2021. Key quotes “The demand recovery path is not expected to be linear, with the on-off risks of travel restrictions and vaccine manufacturing infrastructure likely to dominate the landscape in early 2021.” “The start of 2021 will likely prove to be rocky for crude oil, as OPEC+ will presumably raise output each month and Libya continues pumping oil back into international trade.” “Supply will likely outstrip demand in Q1 till mid-Q2 and Brent may… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
