Oil set for steady gains as economies shake off pandemic blues

Oil prices will stage a steady recovery this year as vaccines reach more people and speed an economic revival, with further impetus coming from stimulus and output discipline by top crude producers, a Reuters poll showed on Friday.

The survey of 55 participants forecast Brent crude would average $59.07 per barrel in 2021, up from last month’s $54.47 forecast.

This is the biggest month-on-month upward revision for the yearly forecast in Reuters polls going back until at least 2016.