Check out our take on the crude oil price anaysis for January 2021 and find out how prices are likely to develop throughout the next weeks. And we’re paying special attention to the crude oil January price forecast as the next OPEC+ meeting draws closer.
Crude oil isn’t having a great start to the new year as we saw the WTI crude oil price drop further down during Monday’s trading session. A worsening of the state of the pandemic, as well as new lockdowns in the UK, Germany and Japan are largely responsible for the grim short-term crude oil forecast and lower demand for crude oil. January 2021 may, hence, see further declines for the crude oil price.
In fact, WTI crude continued to fall on Tuesday, as well. And there’s growing uncertainty in the crude oil January outlook as even within OPEC there appears to be a lack of consensus among the member states in regards to production. US stocks have also taken a beating with the start of the year, which is putting further pressure on the crude oil analysis.
Watch our full WTI crude oil analysis to see where this current tendency may lead us in the weeks to come and how the WTI oil price today will continue to develop. And drop us a line in the comment section below with your thoughts on our WTI crude oil forecast.
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