The bank increased its 2021 Brent crude oil price outlook by $7 to $62 per barrel and West Texas Intermediate (WTI) crude price estimate by $6 to $58 a barrel

OPEC this month cut its 2021 forecast for U.S. tight crude, another term for shale, and expects production to decline by 140,000 barrels per day to 7.16 million bpd

Exxon Mobil closed the books on a terrible 2020, reporting losses in the fourth quarter and the full year in the wake of lower oil prices amid the COVID-19 crisis

Oil prices fell from recent highs for a second day on Friday as Texas energy firms began to prepare for restarting oil and gas fields shuttered by freezing weather

OPEC’s secretary general said there were grounds for optimism that 2021 would be a year of recovery after the slump in oil prices and demand caused by the pandemic

OPEC+ oil producers are likely to ease curbs on supply after April given a recovery in prices, OPEC+ sources said, although any increase in output will be modest as producers are wary of fresh setbacks in the battle against the pandemic

The International Energy Agency (IEA) warned the world oil market remains fragile, despite a recent recovery in prices, as tighter restrictions are imposed to curb more contagious coronavirus variants

Demand will rise by 5.79 million barrels per day (bpd) this year to 96.05 million bpd, the Organization of the Petroleum Exporting Countries said in a monthly report

Oil rose, extending its rally for a ninth day, its longest winning streak in two years, supported by producer supply cuts and hopes vaccine rollouts will drive a recovery in demand

The commodity climbed 1.26 percent to $60.19 a barrel — its highest since January last year — as asset markets rallied on the back of vaccine rollouts and slowing virus infections