Crude to be around $60 a barrel in 2021

Global crude oil prices are expected to be in the range of $60 a barrel over the long term period as OPEC+ decision to cap supply until demand recovers and the pandemic continuing to keep a check on consumption.

According to a research report by ICICI Securities, Brent has recovered and is over $ 60/bbl since February, 21 vs April, 20 low of $ 21/bbl driven by demand recovery from lows and OPEC+ capping supply to ensure supply deficit since July last year.

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The story has been taken from a news agency