Oil price rises, but reacts negatively to new forecasts

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Crude oil is gaining about 2% today, although at one point it jumped almost 3%. EIA today released positive data regarding oil demand:

2021 world oil demand to increase 180K to 5.5M
2022 world oil demand to decrease by 180K to 3.65M bpd
Crude oil output in 2021 to fall 270K to 11.04M

The price of WTI crude oil fell below $ 60 per barrel, despite the weaker dollar, which has been clearly losing since the start of the US session. A short-term divergence has now developed. Data from the oil market are good, although investors still do not know how to evaluate the recent OPEC + agreement on moderate production increases. Source: xStation5

12 February 2026, 7:03 PM

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