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Oil Price – What’s the outlook for 2021?

By Peter Brailey | Sunday 20 December 2020

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

What a mad year for oil sector investors. We entered with Brent at $68 per barrel. All looked set for a good sector performance, then the oil price fell off a cliff to $16 Brent before recovering to $52 as I type. I stuck my neck out previously predicting some negative pricing and WTI subsequently went spectacularly negative some weeks later. I’m going to try my luck a second time and give my view for what next year may hold in store.

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