Analysts: Oil Prices Won’t Go Much Higher This Year

The surge in COVID cases globally could slow oil demand recovery, which will not leave much upside for oil prices for the rest of 2021, analysts told the monthly Reuters poll, revising down their forecast for this year for the first time since November. Brent Crude prices are set to average $68.02 per barrel throughout this year, 43 analysts and economists who took part in the Reuters poll said. This compares with a forecast of $68.76 a barrel in the survey in July. The U.S. benchmark, WTI Crude, is expected to average $65.63 this…