REUTERS: Oil prices will stage a steady recovery this year as vaccines reach more people and speed an economic revival, with further impetus coming from stimulus and output discipline by top crude producers, a Reuters poll showed on Friday.
"Against these demand dynamics, the supply side is unlikely to catch up on time, leaving the oil market in tightening mode for months to come." "With OPEC+ endeavouring to keep global oil production below demand, inventories should continue falling this year and allow prices to rise further," said UBS analyst Giovanni Staunovo.However, experts said any deterioration in the COVID-19 situation and the possible lifting of U.S. sanctions on Iran could hold back oil's recovery.The poll forecast U.S. crude to average US$55.93 per barrel in 2021 versus January's US$51.42 consensus.
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