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1. • • OPEC raised its forecast for oil consumption by 190,000 barrels a day for 2021, though lowered its outlook for the second quarter. Traders are also watching for signs of a robust demand rebound in the U.S., the world’s top oil-consuming country. In New York City, toll bridges and tunnels are on pace for the busiest April in at least seven years.
     www.bloomberg.com/news/articles/2021-04-12/oil-holds-near-60-as-uneven-recovery-holds-back-further-rally

     Oil Rises With OPEC Expecting Demand Rebound to Absorb Output

2. People also ask

   Why did crude oil prices increase in 2021?

   • Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy resulted in global petroleum demand rising faster than petroleum supply.

   Crude oil prices increased in 2021 as global crude oil demand outpaced

   www.eia.gov/todayinenergy/detail.php?id=50738

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   Will oil prices rebound in 2021?

   • This represents a rebound from the 2020 average of $41.69 per barrel, but it is still lower than pre-COVID levels. The International Monetary Fund, in its latest release of the World Economic Outlook, predicts a similar recovery scenario, with Brent oil prices rising to US$59.74 per barrel in 2021 and then to $56.23 in 2022.

   Crude Oil Price Forecast: 2021, 2022 and Long Term to 2050

   knoema.com/infographics/yxptpab/crude-oil-price-forecast-2021-2022-and-long-term-to-2050

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   How will world oil demand change in 2021?

   • Our forecast is for world oil demand to increase 6.6 million barrels per day year-on-year in 2021, reversing about two-thirds of the nearly 10 million b/d collapse in 2020. Already, China has seen oil demand strengthen this quarter to levels higher than the same period of 2019.

   Wood Mackenzie’s Top Ten Predictions for Energy in 2021

   www.world-energy.org/article/14984.html

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   What is the average price of crude oil in 2021?

   • Brent’s 2021 annual average of $71/b is the highest in the past three years. The price of West Texas Intermediate (WTI) crude oil traced a similar pattern to Brent and averaged $3/b less than Brent in 2021. Global petroleum production increased more slowly than demand, driving higher prices.

   Crude oil prices increased in 2021 as global crude oil demand outpaced

   www.eia.gov/todayinenergy/detail.php?id=50738

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3. www.cnbc.com › 2021/04/14 › oil-markets-usOil jumps 5% on signs of increasing demand, inventory decline

   www.cnbc.com › 2021/04/14 › oil-markets-us

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   Apr 14, 2021 · Oil prices surged more than 4% on Wednesday, after a report from the International Energy Agency, followed by U.S. inventory data boosted optimism about returning demand for crude.

4. www.eia.gov › todayinenergy › detailCrude oil prices increased in 2021 as global crude oil demand ...

   www.eia.gov › todayinenergy › detail

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   Jan 4, 2022 · Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy resulted in global petroleum demand rising faster than petroleum supply.

5. Videos

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     2:06

     cnbc.com

     IEA: Oil demand to rebound by end of year

     Sep 13, 2021

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     4:17

     wsj.com

     Oil Prices Defy Supply-Demand Fundamentals

     Jun 10, 2020

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     1:24

     reuters.com

     Oil settles up 1.5%; hits multi-year highs on surging demand

     Oct 11, 2021

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6. www.reuters.com › business › energyOil jumps 5% after 7 days of losses, boosted by weaker dollar

   www.reuters.com › business › energy

   Aug 23, 2021 · Companies. Prices rebound from biggest week of losses in nine months. U.S. oil and gas rig count rises for third week. NEW YORK, Aug 23 (Reuters) - Oil prices rose more than 5% on Monday,...

7. www.bloomberg.com › news › articlesOil Dips as Growing U.S. Fuel Supplies Cloud Summer Rebound

   www.bloomberg.com › news › articles

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   Jun 8, 2021 · Oil closed lower as an increase in U.S. fuel stockpiles clouded the outlook for a strong demand rebound during the summer driving season. Futures in New York ended Wednesday close to...

   • Video Duration: 10 min

8. www.nasdaq.com › articles › oil-prices-inch-higherOil Prices Inch Higher on Strong U.S. Economic Data ... - Nasdaq

   www.nasdaq.com › articles › oil-prices-inch-higher

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   May 28, 2021 · Oil prices inched higher, with Brent holding near $70 a barrel as strong U.S. economic data and expectations of a rebound in global demand outweighed concerns about more supply from Iran...

9. www.cnbc.com › 2021/05/28 › oil-markets-brent-crudeOil ends day slightly lower, but posts a weekly gain amid ...

   www.cnbc.com › 2021/05/28 › oil-markets-brent-crude

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   May 28, 2021 · Analysts expect global oil demand to rebound closer to 100 million barrels per day in the third quarter on summer travel in Europe and the United States following widespread COVID-19 vaccination...

10. www.nasdaq.com › articles › opec-sticks-to-forecastOPEC sticks to forecast of oil demand surge in ... - Nasdaq

    www.nasdaq.com › articles › opec-sticks-to-forecast

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    Jun 10, 2021 · OPEC stuck to its prediction of a strong world oil demand recovery in 2021 led by the United States and China, although it cited uncertainties around the path of the pandemic.