Crude Oil Forecast: Backwardation Hints At Gains With OPEC JMMC On Tap
January 30, 2021 at 19:45 PM EST
The price of oil has remained resiliently poised above $52 a barrel as data points out of the US instilled an improved outlook for demand, with crude inventories falling 9.91M in the week ending January 22 versus forecasts for a 0.43M rise.