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A Reuters poll of 40 analysts forecast Brent averaging $42.48 a barrel in 2020 and $50.41 in 2021, with US crude averaging $38.70. Respondents expected OPEC+ output curbs to be offset by rising coronavirus cases that slow demand recovery.
Brent was on track for its first monthly decline in six months.
A flat crude outlook keeps diesel and freight costs stable for feed buyers in the near term. Demand recovery remains the main swing factor for energy-linked input costs.
arabnews.comReutersSep 30, 2020After 54 past neutral macro events, Crude Oil (Brent) moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% over 20.
After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
