Oil prices to see little upside as virus threat looms large: Reuters poll | Reuters

Oil prices to see little upside as virus threat looms large: Reuters poll | Reuters:

Oil prices will stay near current levels this year as rising novel coronavirus cases threaten to slow the pace of demand recovery and counter output curbs by top producers, a Reuters poll showed on Wednesday.

The survey of 40 analysts and economists forecast benchmark Brent crude LCOc1 averaging $42.48 a barrel in 2020. That compares with an average of $42.54 this year and last month's forecast of $42.75.

Brent is projected to average $50.41 in 2021.

The 2020 U.S. crude CLc1 price outlook was at $38.70 per barrel versus $38.82 predicted in August. It has averaged $38.20 this year.