Analysts downgrade 2021 forecast for oil to $70 per barrel, predicting that coronavirus variants may cool demand recovery ...News

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Analysts downgrade 2021 forecast for oil to $70 per barrel, predicting that coronavirus variants may cool demand recovery
source : Russia Today ( News ) () 14
Covid-19 variants, along with the slower-than-expected return of Iranian shipments, will reportedly continue affecting the global markets for crude until the end of the current year, remaining a major source of volatility. According to the monthly Reuters poll, $70 per barrel looks to be a more realistic projection for Brent Crude prices for the rest of 2021, rather than the previously predicted $80 per barrel. The survey of 38 analysts suggests Brent might hover at around $68.76 per barrel – up slightly from June’s $67.48 estimate. So far this year, the global benchmark averaged around $66.57. Also on rt.co

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